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of <h1>Circular Clarifies Dower Treatment: Prompt Dower as Debt, Deferred Dower as Gift Under Income and Wealth Tax Laws.</h1> The circular addresses the treatment of dower under Muslim law concerning income tax and wealth tax. It clarifies that 'prompt' dower, payable immediately upon demand, is a debt and not subject to clubbing under section 64 of the Income Tax Act or section 4 of the Wealth Tax Act. Conversely, 'deferred' dower, payable upon marriage dissolution, is not a debt during the marriage. Transfers of property for deferred dower are considered gifts without consideration, subject to income aggregation and gift tax. The circular instructs tax officers to review and act on cases involving property transfers related to deferred dower.
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