Can a HUF receive gift
This query is : Resolved
Girish Sharma
(Querist)
07 July 2011
Hii
Can a HUF receive gift from its members or other persons
Can a HUF receive gift from its members or other persons
CA PARAS BAFNA
(Expert)
07 July 2011
It can receive total gifts of up to Rs 50000/ in cash. If it receives more than 50000/ entire amount will be treated as taxable income and will be taxed as IFOS.
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