CA Janani
(ACA ACS DISA(ICAI))
(359 Points)
Replied 18 May 2016
Look into
/articles/gifts-to-and-from-huf-20454.asp
Members are to be construed as relative for HUF..
Vinay somani (CA, CS)
(Assistant Manager-Accounts)
(549 Points)
Replied 18 May 2016
It is fully exempted from tax if Gift REcd by HUF from his Member.
If Gift recd frm relative of member then same is taxable.
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