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Ritesh kumar srivastava

Clubbing of income...
Hi Amlan,
pls guide on the scenario where husband give away loan of 5lakh with nominal interest (to avoid clubbing provisions) to non earning wife for start of her small business to be engaged in daily life such as sewing/computer classes (not registered) or share market trading/investment to generat...
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sravan

Clubbing of income...
I am transferring 5 lac amount every year to my wife's account from which she is using for 1.5 lac in Sukanya account, 1.5 lac in PPF and 2 lac for household expenses. For filing itr-1, whether she need to show 5 lac amount as exempt income (gift income) plus interest income for savings and FD or el...
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Amlan Dutta
I will answer this in details .......The provisions relating to gift tax have been dealt with under Section 56(2)(x) of the Income-tax Act, 1961. As per the law as it stands today which was amended in 2017, gift received by any person by any person or persons are taxed in the hands of recipient unde...
  • November 26, 2018
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