04 March 2015
1. Yes members can give gift to HUF. No taxability in the hands of HUF as its members are its relatives.
2. As per section 64, if any individual converts his own property into his HUF's property on or after 1.1.70 than any income derived out of such property by HUF will be deemed to be income of that person itself that is will be clubbed with the income of that person only. This will also applicable in case of gift by members to HUF.