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Querist : Anonymous (Querist)
04 May 2016 Does gift received from brother of karta or brother of any coparcener taxable.Is there any limit.
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CA CMA CS Ram Pavan Kumar Melam

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CA CMA CS Ram Pavan Kumar Melam (Expert)
05 May 2016 If the gift has been received in personal capacity of HUF karta from a relative, there is no tax. If the gift has been received from any member of HUF to HUF is also not taxable. The limit is Rs. 50,000 per annum in aggregate.

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