practical tax & investment planning online
international tax expert / colunmist / author / speaker

SCRUBBING THE CLUBBING PROVISIONS

Gifts to Son’s Wife on the occasion of Marriage can help save smart tax for a lifetime!       The abolition of Gift-tax since 1st October, 1998 has also thrown open several opportunities for planning to reduce a taxpayer’s income-tax and wealth-tax liabilities. Moreover even under the provisions of Section 56(2) as effective from 1st September, 2004 (and further amended w.e.f. 1st April, 2006 and 1st October,...

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