Any income from an asset transferred to spouse without adequate consid – McqOptions

MCQOPTIONS

1.	Any income from an asset transferred to spouse without adequate consideration is clubbed in the hands of the transferor if:
A.	Such asset is held by the spouse as on the last day of the previous year
B.	Relationship between them exist as on the date of accrual of income
C.	Transferee is not a senior citizen
D.	None of the above
Answer» C. Transferee is not a senior citizen

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