gift tax on transaction

I want to give RS 20 lakhs to my wife as gift to purchase house in her name.What will be the tax liabilty to her or to me.

asked Sep 03 '12 at 16:39 by income_ tax 1116

There is no income tax payable by your wife on receiving gift from you.

answered Sep 06 '12 at 21:19 by Pankaj Batra 5.2k320


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Asked: Sep 03 '12 at 16:39

Seen: 1,445 times

Last updated: Sep 06 '12 at 21:19