In last paragraph
Sold the gift of wife is income under capital gain or clubbing
Bcoz… In the first para they sold few capital asset that is treat as capital gain. And this last para asset is clubbed. So how can we differentiate the difference between both para
Could you pls share the answer also as I am not getting what exactly u r asking
This is the mcq
I have problem in solving 15.1 and 15.4 mcq
This is the first part of the question
Clubbing is applicable if assets are transferred to spouse. In 1st para, assets are not transferred by spouse except for the 4 rings which is sold in last para in respect of which clubbing is applicable..
Further, In 1st para the assets received other than wife are irrevocable transfer, so clubbing cannot be applied.