Stcg on property sale through gifted amount

Siva (engineer) (74 Points)

25 November 2012  

Hi,

if i give a amount to my wife (she is not earning any money) and using which she purchases a property.  I understand the rental income earned on the property will be clubbed in my income.  If the property is sold on whose name the gain will be mapped.  Assuming we sell it in the Short Term Range will it mapped on my wife's income or mine.?

 

Thanks.