Closure of Bank account and Transfer Balance to Spouse

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..... Dear Expert, Wife want to close her bank account and want to transfer balance lying in her account 20 Lac to her husband bank account. How can we show this transfer (Gift/Loan) so that no income tax .....

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..... can be attracted to recipient?? Please answer with justification. - Reply By Sampath Kota - The Reply = Gift from relative is full exempt. Spouse being a relative,there will not be any issue. - R .....

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..... eply By KASTURI SETHI - The Reply = Sh.Sampath Kota Ji, Will you please quote relevant Section of the Income Tax Act ? Thanks a lot. - Closure of Bank account .....

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..... and Transfer Balance to Spouse - Query Started By: - NISHANT SHAH Dated:- 28-5-2021 Income Tax - Got 2 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal .....

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..... opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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