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Q. > Please Help: Raise Capital in proprietory concern
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176 views • Question added Feb 23, 2015 • Income Tax • By Sejal , CA , Ahmedabad


Dear Members,
If proprietor receives gift of Rs.2.5lacs from father or spouse and invest as capital in business than shall profit earned from proprietory concern be clubbed in income of father or spouse from whom gift is received?

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Aditya Goel

23-Feb-2015 , 04:25:30 pm

No

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Alok Kushwaha

24-Feb-2015 , 10:33:16 am

No impact of clubbing of income, as share of income is exempted under section 10(2A)of income tax act, 1961.

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