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All QuestionsCategory: Income Tax Consultancycash gift to wife sec 64 applicable in IT Act
Profile photo of Kollipara sundaraiahKollipara sundaraiah asked 3 months ago

cash gift to wife sec 64 applicable in IT Act

sir,
IT assess cash gift to wife Rs: 15 lacs payment through on bank mode. This amount wife used for some unsecured loans repayments purposes received.

Question:
above amount transactions treated cash gift to the wife or cash loan to wife benefit and safe in i.t.act

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