Income Tax Exemption on Gifting to Spouse

[Guest]

Hello All,

I am planning to give a particular amount to my spouse for starting a business.

Please let me know whether any income tax exemption is possible on this for me.

If yes, please let me know under which section this comes out.

Regards,

Balan

[DR.MARIAPPAN GOVINDARAJAN]

In my view, the donation given to near relatives, including wife, is exempted from Income Tax provisions.

AI Summary

Gifts to spouse are treated as exempt from income tax under the near-relative gift exemption. The advisory response states that donations given to near relatives, explicitly including a wife, are exempted from income tax provisions.