When a gift is given to wife, why again the income from the same is taxable to the transferor?
9 Replies
S M Raja
(Article Assistant )
(165 Points)
Replied 22 November 2018
To regulate transfer of income from one person to another to avoid tax payment or to avoid higher rate of tax
S M Raja
(Article Assistant )
(165 Points)
Replied 22 November 2018
Are you able to prove the same to the authorities? normally those adament persons (AO) will not accept your views and points they used to struck with their views. though gift received from relatives is not taxable and the property was purchased from that money and the action was genuinely happened they will not accept it they will follow only the act or rules.
Ashwini Kalkur
(5 Points)
Replied 22 November 2018
So if it is a genuine gift transfered to wife, still the income from the same is taxable in the hands of the husband?
Jaspreet Singh
(17 Points)
Replied 22 November 2018
clubbing provision's are attracted at the time of scrutiny, so if you aren't scrutinized, continue playing it. :p
Hitesh
(Student)
(3549 Points)
Replied 22 November 2018
can you give example of genuine gift transfer Ashwini?
rama krishnan
(12244 Points)
Replied 23 November 2018
genuine gift? what's genuine gift? what's the necessity to gift to your wife except for the reasons to divert the taxability of income?
and Mr. s m Raja, if a person goes by acts and rules framed by the legislature, it seems to be adamant for you? being an assessee's representative have you attended all hearings and submitted all the requisite documents vide statutory notices within the stipulated time?
it's always easy to blame others
and Mr. s m Raja, if a person goes by acts and rules framed by the legislature, it seems to be adamant for you? being an assessee's representative have you attended all hearings and submitted all the requisite documents vide statutory notices within the stipulated time?
it's always easy to blame others
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 27 November 2018
Well said Mr. Rama Krishnan. 👏👏👏👏
rama krishnan
(12244 Points)
Replied 27 November 2018
thanks nitesh bro, at least you understand the gravity of the issues and Mr. s m Raja, sorry and don't take it personal pls
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