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Commerce
Income Tax And Corporate Tax
Difficulty: Medium
If a sum of money is gifted by a husband to his wife, income generated there from is taxable in the hands of husband under the clubbing provisions of Section 64(1). Section 64(1) is not applicable, if gift is made by the same person out of the funds of his Hindu Undivided Family in capacity as karta of the family. In such a case it is
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