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QUERRY REGD. GIFT BY KARTA

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 July 2010 1) Can a karta make a gift (cash/kind) to any of his coparceners?
2) what will be its tax implication on karta and that coparcener?
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
05 July 2010 if karta makes any gift to coparceners this is individual transaction hence if coparceners are relative which is obvious then it will be exempted ( it is not the transaction of huf)
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Akhil Agrawal

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Akhil Agrawal (Expert)
06 July 2010 Agree with Mr. Gaurav




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