Gift Tax

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    1. I am a tax pensioner and tax payer.
    2. My wife has taken a loan few months back of Ts. 10,00,000/- from bank for construction on her urban plot.
    3. Now I want to give Gift a sum of Rs. 10,00,000/- to my wife by transferring money to her account.
    4. Now my wife utlises this money and repays her loan fully.
    5. The construction gets completed in three years.
    1. Can it will treated as gift. if so how.
    2. whether any tax is to be payable, if so how the income is not generated
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