Where The Best Minds Meet
 
Home | Everything | News | Blogs | Jobs | Ask Questions | Submit Article or Question | About Biharscoop | Register

Menu

. submit article or question
. create account
. Help - What is this site about?
. Using The Free Member Diaries

Login

Make a new account

Username:
Password:

Who's Online? (13)

. Unregistered Visitors (13)

Note: You may cloak yourself from appearing here in your Display Preferences.

Recent Comments

. mungur (khyrahTakooree)

. This is the fact (Rajesh Kumar)

. Investment in Bihar (abhishekpandey)

. Investment in Bihar (abhishekpandey)

. About strikes of govt. Doctors in Bihar (abhishekpandey)

. problems are there. The challenge is to fix them (kanhaiya)

. Investment in Bihar (Dangi)

. My Experince Till date with Investment in Bihar (SUNNY)

. Investment in Bihar (bachapan)

. Under Construction (prastogi)

Recent Member Diaries

Please Don't think in a different way always
by Rajesh Kumar - December 13

How to use the "Free Member Diaries" feature.
by Rajesh Kumar - August 20


More Diaries...

Front Page

Monday May 5th
. High On Tech, Low On Utility: Tacky but cheeky, Google ofers Hindi translation (0 comments)
. Fund Scam Strikes At State Bank Of India (SBI) Bihar Office (0 comments)
. Roads Will Be Built Before Monsoon: Bihar Road Construction Department (RCD) (0 comments)
. National Thermal Power Corporation`s Barh Unit Signs Memorandum Of Understanding With Bihar govt. (0 comments)

Saturday May 3rd
. 4 Railway Over-Bridges To Open Next Month, Mithapur Would Be Completed In The March of 2009 (0 comments)
. 318 Delayed Projects Cost of Rs 24,670 Crore Could Have Fed Half Of India's Poor For 4 Months (0 comments)
. Minor Offences: Government Eases Punishment, Arrests To Be Made Only After Conviction (0 comments)

Friday May 2nd
. Are Courts Corrupt? Bar wants to know In Confidential Survey (0 comments)

Thursday May 1st
. Section Of Bihar Lawmakers Unhappy With Chief Minister Nitish Kumar (0 comments)
. Bihar Government Implementing RSS Agenda: Rashtriya Janata Dal (RJD) (0 comments)
. Very Few NCERT Books In Patna stores (0 comments)
. NTPC To Enter Distribution With Kahalgaon Project In Bihar (0 comments)
. Bihar MPs Seek Central Help To Overcome Power Crisis (0 comments)
. Science Education In Rural Schools (0 comments)

Wednesday April 30th
. Finance Minister P. Chidambaram Extends Tax Breaks For IT Firms (0 comments)
. Upload Video Making Money, the How-To Way (0 comments)
. Study Suggests Math Teachers Scrap Balls and Slices (0 comments)
. Microsoft Device Helps Police Pluck Evidence From Cyberscene Of Crime (0 comments)

Tuesday April 29th
. Paswan Announces Third Steel Processing Plant In Gaya By The Steel Authority of India Limited (SAIL) (0 comments)

Monday April 28th
. Patna University (PU) Bid To Improve Research Facilities To Its Scholars And Faculty Members (0 comments)
. Patna Municipal Corporation (PMC) officials Pull 2021 As The Magic Year For Patna (0 comments)
. Bihar Accepts NTPC's Proposal For Power Distribution In Kahalgaon Under Bhagalpur District (0 comments)

Friday April 25th
. Bihar Now Plans To Hire Eunuchs As Security Guards For Women (0 comments)
. Travel By Trains From Patna To Howrah In Two Hours By Train, Sounds Crazy? (0 comments)

Thursday April 24th
. Rail Traffic Disrupted by CPI-ML Protestors In Patna (0 comments)
. Bihar Government Has Now Decided To Set Up Fast Track Courts To Try "Corrupt" Officials (0 comments)
. Cereal Consumption In Bihar Declines In Recent Years (0 comments)

Tuesday April 22nd
. Patna Met Office Will Now Have Improved Technology And Infrastructural Facilities (0 comments)
. Bihar Govenment On Tuesday Increased The Dearness Allowances Of State Govenment Employees By 6 % (0 comments)

Monday April 21st
. Bihar Government Takes Initiative To Improve Womens' Lives (0 comments)

Older Stories...

Random Stories

. International roaming is a ripoff, Too Costly Onus of reducing roaming rates lies with Trai: COAI

. CM Lays Foundation Stone of Krishna Temple

. Villagers in Bihar national park to be relocated

. India To Have More IITs, IIMs Soon : HRD Minister Arjun Singh

. BB Starts "Saheed Anil Kumar Singh, IPS (Retd.) Yojna for children"

. NTPC To Enter Distribution With Kahalgaon Project In Bihar

. Group Of Ministers To Study Hike In Court Fees, But Lawyers Refuse To Relent

. Depression is `cardiotoxic'

. Bangla To Be Taught In Bihar Schools Following Court Order

. Age No Bar To Become A Lawyer In The Capital

Gift Tax

Q: Please enlighten us on the following points:

A. Can a husband give gift of cash/property to his wife? The interest of the gift and the procedure involved therein.

B. In the event of a senior citizen/PAN holder:

Who will file the return/returns on his behalf?

How will the interest on deposits like MIS. (post office) account, RBI bonds and other bank deposits etc. occurring in the ensuring years, till maturity be treated under these circumstances?

By Unregistered Visitors, Section Ask Questions
Posted on Mon Oct 30, 2006 at 02:50:30 AM EST
< Insurance proceeds | Lack Of Decent Jobs Hits Youth Hard: ILO (International Labour Organisation) >

Gift Tax | 1 comment (1 topical, 0 hidden)
Gift Tax (none / 0) (#1)
by Mrs Gupta on Mon Oct 30, 2006 at 02:59:20 AM EST
The answers to your queries are as under:

A. The husband can gift any amount of cash or an immovable property to his wife. There is no limit to the extent of which such gift can be made. However, as provided by section 64 of the Act, the income derived from such gifted property will be includible in the income of the donor i.e. the husband. The gifted property would also form part of his wealth for the purpose of computing the net wealth of the donor.

B. In case of a senior citizen who is not alive and his estate has not been distributed amongst his legal heirs which estate has an income above the taxable limit, a return of income will be filed by his legal heirs in respect of such an income. The entire income arising to the estate of the deceased will have to be included for the purposes of the taxability of the income. This procedure is for the interim period and after the estate of the legal heir is distributed to the legal heirs, the legal heirs would include the income arising from their share of such estate in their own income.





Gift Tax | 1 comment (1 topical, 0 hidden)
Biharbrains Community
Call For Abstract : Bihar Science Conference, 2008 0 comments, 0 new -1,

Bihar Science Conference ,2008 0 comments, 0 new -1,

BiharBrains Scholastic Center 0 comments, 0 new 3,

The first Bihar Science Conference will be held at Patna University 0 comments, 0 new 3,

BiharBrains Needy Talent Search Scheme 0 comments, 0 new 12,

Sweden-India Scientists Interaction Program (Tentative Porgram) 0 comments, 0 new 12,

More Biharbrains Community>>
In search of Brains of Bihar
info@biharbrains.org
www.biharbrains.org biharbrains -subscribe@yahoogroups.com