Clubbing provision under Wealth Tax Act, Other Topics

[Vikas Aggarwal]

Dear Sir/Madam,

I have doubt in the following issue, plz guide/suggest me on this issues:

Issue-1:  If a Mother transfer/gift some wealth (Jewellery) to his major married son, can the said trf clubbed in the hand of mother for wealth tax purpose or it is valued in the hand of son's

Is gift deed required for the said transfer.

 

Issue-2:

 

Posts / Replies

[Sanjeet Kumar]

Dear Sir, 

As per the Section 4(ii) of wealth Tax Act, the world minor son is used for clubbing provision. So in my opion there is no clubbing if wealth is transferred to Major son. He is the liable to pay wealth tax on the same i.e. major son. 

Provision for your reference: