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Gift from individual status to huf status

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(Querist)
25 July 2014 Whether Assessee who is a coparcaner in HUF in his individual status can give gift to HUF status? If so is it taxable in the hands of HUF?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 July 2014 it wont be taxable as members of HUF are covered under definition of relative.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
29 July 2014 not taxable u/s 56(2) under explaiantion to this sec there is def of relatives which exempts such transaction




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