Can income from assets transferred to any person for the benefit of spouse or for the benefit of son’s wife without adequate consideration be clubbed with the income of transferor?
FAQs on Clubbing of Income
Contents
Acts
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Clubbing of income: transfers without adequate consideration for spouse or son's wife are taxed in the transferor's hands. Transfers of assets otherwise than for adequate consideration that yield an immediate or deferred benefit to the transferor's spouse result in income from ... Summary
Clubbing of income: transfers without adequate consideration for spouse or son's wife are taxed in the transferor's hands.
Transfers of assets otherwise than for adequate consideration that yield an immediate or deferred benefit to the transferor's spouse result in income from those assets being clubbed with the transferor. Equivalently, where such transfers benefit the transferor's son's wife, income arising from the transferred assets is clubbed with the transferor's income, including transfers made through any person or association of persons.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
Join Channel
TaxTMI 
