Whether a wife has to pay gift tax if she receives any amount from her husband ?



Suppose I have given my wife a sum of 1000000 which she has invested in MIS, whether she has to pay gift tax?

Whether a wife has to pay gift tax if she receives any amount from her husband ?
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3 Replies to “Whether a wife has to pay gift tax if she receives any amount from her husband ?”


  1. NO an TWO accounts. This info is straight from the IRS with a disclaimer listed below from their own site.

    One:

    Who pays the gift tax?
    The donor is generally responsible for paying the gift tax. Under special arrangements the donee may agree to pay the tax instead. Please visit with your tax professional if you are considering this type of arrangement.

    Two:

    What can be excluded from gifts?
    The general rule is that any gift is a taxable gift. However, there are many exceptions to this rule. Generally, the following gifts are not taxable gifts.

    1.
    Gifts that are not more than the annual exclusion for the calendar year.
    2.
    Tuition or medical expenses you pay for someone (the educational and medical exclusions).
    3.
    Gifts to your spouse.
    4.
    Gifts to a political organization for its use.


  2. Gift to wife will not taxable under gift tax. But income on that gift (here MIS profit/ dividends) will be added to husband’s income for income tax point of view.





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