i am an NRE. i want to transfer money from my NRE ruppes keeping account to my spouse for investment. she do not have any other income. is the amount i transferred to her account willbecome income to her? or only the interest she get from that is taxable?
I am to trying to invest in property. The property shall be in the name of self(first name) + father(second name). I intend to take 50-60 % from my father. Can I take help from him financially.Will it attract any kind of Gift Tax ???
Why cannot a person gift a property for a partial cost, instead of full gift. Why should the seller be taxed for the remaining market value as per the sub-registrar. Can he not sell a property for a discounted price as per his will.
If my friend gifts me a property partially only to the extent of 40% of the market value, as derived from the sub-registrar, then should he have to pay the tax based on the market value as per the sub-registrar's MV? - The remaining 60% of the min.value of the property as per the sub-registrar, is paid by me through DD.
My Question is If Gift recd in dollers say 1000 dollers,that comes to approx Rs.45000/- whether it is still be taxed? Gift recd in Dollers are exepmt or not?
RE:Gift recd in foreign convertiable currency
by sanjeev mittal on Apr 21, 2006 02:45 PM
Consider your matter that u have transfer the shares about 2.5lakh to own wife.Under gift tax act gift make in share form is fully exempted from Gift tax and u r wife also evade from gift tax.
