Mr.A gives Mrs.A a cash gift of 200000 and after 1year he is borrowing 200000 from her. what is the status of the situation as per income tax act?
Menu
Gift provided to spouse
Replies (1)
In 1st transaction for wife, it will be a gift to her from a relative so not taxable for her however Mr A will have to pay tax on 2lacs.
Recent Threads
- Understanding section 269st
- CASH AS GIFT OR FD AS GIFT
- NPS Pre Maturity full exit taxation rules
- Planning to ceased a Business
- Taxation for sale and purchase of REIT shares
- PAN - AADHAR LINK
- RECONCILIATION OF GSTR 2B Vs BOOKS WITH VBA
- Regarding cancellation of GST Number
- GST on business receipts pre -registration
- A Restaurant registered under the Composition Sche
Related Threads
CAclubindia
