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Mihir Tanna  |961 Answers  |Ask -

Tax Expert - Answered on Aug 17, 2023

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Shyamal Question by Shyamal on Jul 22, 2023Hindi
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If shares gifted by wife to husband, (i) who is liable to pay tax on dividend received on gifted shares (ii) if gifted shares are sold by the husband and amount reinvested, who is liable to pay tax on the income accruing from reinvestment?

Ans: Gift received from relative (spouse included in its meaning) is not considered as income from other sources and will not be liable to tax. Further, income earned by spouse from the amount invested will be clubbed in the hands of wife (gift giver).

Thus, dividend income and capital gain on transfer of shares will be clubbed in the hands of wife.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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