Any income from an asset transferred to spouse without adequate consideration is clubbed in the hands of the transferor if:

Related MCQs

• Where a partner of a firm transfers any capital asset to the firm by way of capital contribution, for the purpose of computing capital gain in the hands of the partner, the amount of deemed consideration is
• Income of minor is clubbed however the clubbing provision is not applicable if
• As per sec.60, income is clubbed if
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• Block of asset is required to be increased by an amount which is actual cost of the asset being covered u/s 35AD that amount is:
• When a capital asset was acquired on 01.04.1980 and sold in June, 2017, the cost of acquisition or the fair market value of the asset as on ------, at the option of the assessee is to be adopted for indexation purpose:
• Income of REIF being a business trust by way of renting or leasing of an asset is exempt if:
• An individual purchased a painting on 01-11-2017 for Rs. 5,00,000 though fair market value of the asset is `5,25,000. Income taxable u/s 56(2)(x) is:
• An employer has paid medical insurance premium of Rs. 12,000 in respect of a salaried employee drawing annual salary of Rs. 6 lakhs. The amount of perquisite charged in the hands of employee is
• Long term capital gain arising from transfer of unlisted securities in the hands of nonresident / foreign company is chargeable to tax at