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Exemption of tax on gift made to wife
by prodosh sanyal on Apr 28, 2007 12:22 PM

My wife is a house wife with no independant source of income. I am an IT assessee in the 30% bracket. I want to gift Rs.2.00 lacs to my wife in this financial year. I want to know (a)tax implication at the receipant's end, and (b) process of completing the gift transaction.

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The above message is part of the Discussion Board:
All these incomes are tax-free