GIFT OF MONEY FROM HUSBAND TO WIFE

Share
Share This Thread
  1. rl334709

    rl334709 New Member

    1. Can a husband give any amount to his wife, as gift?

    2. If a husband can give to his wife, any amount as gift, then can such gift be given in cash?

    Is such cash gift transaction valid?


    3. If the wife makes F.D., out of the amount received as gift from her husband, and earns interest on such amount , then whose income such interest will be?

    I mean, will any clubbing provision be applicable here, regarding interest on such gifted amount?

    Will such interest on F.D. be clubbed into husband’s income? And will it to be shown in husband’s income tax return?

    Or

    Will it be considered as wife’s own income? And to be shown in wife’s income tax return?
     
  2. VAIBHAV DILIP RANE

    VAIBHAV DILIP RANE Active Member

    Reply,...
    1) Husband can give any amount to his Wife.
    2) Avoid Cash as possible. 100% vide Cheque or via Bank.
    3) Transaction Valid only vide Bank. And if property other than Liquid than advisable for a Gift Deed.
    4) If your wife regularly file return of income, than very less chances of getting it club with your income.
     
    Karan Batra and Sahil Oberoi like this.
  3. rl334709

    rl334709 New Member

    ...........................................................................................................Thank you for your guidance.

    PLEASE , GUIDE FURTHER :


    CAN A GIFT DEED BE MADE IN CURRENT DATE, FOR GIFT TRANSACTIONS TAKEN PLACE IN PAST YEARS?

    IF, WE USE CURRENT DATE STAMP PAPERS FOR GIFT DEED,
    AND
    MENTION ON SUCH STAMP PAPERS, THAT
    THE GIFT TRANSACTIONS ARE MADE ON PARTICULAR PAST DATE,

    THEN, WILL IT BE VALID GIFT DEED?


    Will any Rule/ Regulation/act/law be broken by doing such gift deed for past years' gift transactions , on current date stamp papers?
     
  4. VAIBHAV DILIP RANE

    VAIBHAV DILIP RANE Active Member

    Anything can happen in India.... Consult an Advocate regarding Deed or Back Stamping... Rest CAs are there for IT matters.... :)
     
  5. rl334709

    rl334709 New Member



    YES....THAT S ALSO CORRECT THING.....

    ANYWAY, THANKS A LOT FOR YOUR GUIDANCE.
     
Draft saved Draft deleted
Loading...
Similar Threads Forum Date
Admissibility of gifting money to huf Income Tax Oct 4, 2016
Tax saving on gifted money to parents Income Tax Jul 2, 2016
Tax implications on money gifted to sibling Income Tax Mar 7, 2016
Gift made by huf to daughter-in-law of karta Income Tax Mar 10, 2018
gift on marriage Income Tax Feb 25, 2018