Don’t Fall for the Spouse Gift Tax Trap: Why It Won’t Save You Tax in India
“Thinking of gifting money to your spouse to save on taxes? Think again! 🤯 Many believe this is a smart tax move, but the Indian Income Tax Act has specific “clubbing provisions” (Sections 60-64) that prevent it. Here’s why gifting to your spouse (or other family members) won’t typically reduce your tax burden: The bottom … Read more