Attracting gift
This query is : Resolved
iaxminarayan bhattad
(Querist)
10 November 2012
Mr. Manish has a HUF which consist of Mr.&Mrs. Manish and his two sons.
Smt.Kamala Bai - mother of Mr.Manish desires to Gift to Manish(HUF).
Note*** Smt. Kamala Bai is not part of Manish(HUF)
Q) In the hand of Manish(HUF) gift is Exempt or Taxable?
Smt.Kamala Bai - mother of Mr.Manish desires to Gift to Manish(HUF).
Note*** Smt. Kamala Bai is not part of Manish(HUF)
Q) In the hand of Manish(HUF) gift is Exempt or Taxable?
Anand Modi
(Expert)
10 November 2012
Taxable if the gift amount is more than 50,000/- in a year.
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