Taxation Law
Can I purchase a property in my wife's name with my own funds? If not, do I need to gift her the money or give the money on loan as per Section 64 of the IT Act? What is the maximum amount one can gift or extend as loan to one's spouse? Guide please.
Asked on 10/09/08, 12:03 am
1 Answer from Attorneys
Rohini Kumar Tenneti
R.K.1080 LEGAL SERVICES
Re: Taxation Law
yes you can gift any amount that arises from your own sources and there is no such limit or cieling to gift.Gift must be registered and its another part of law.
Answered on 10/10/08, 4:23 am
Related Questions & Answers
-
About Practise Hello Sir, CAn an advocate working in a company aplly for... Asked 9/18/08, 5:09 am in India Tax and Taxation Law
-
Taxation Is prior approval of IT Dept necessary for the sale of immovable property... Asked 9/15/08, 8:08 am in India Tax and Taxation Law
-
Income tax Sir, Is it mandatory to close the income tax file i.e. deactivate the... Asked 9/14/08, 11:09 pm in India Tax and Taxation Law
-
Gifting money What are of the modalities of gifting money to a relative, in India.... Asked 9/11/08, 10:17 am in India Tax and Taxation Law
-
Income tax returns Sir, I am a student and doing a part time job & earn 2000 INR... Asked 8/28/08, 8:07 am in India Tax and Taxation Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
