Cheque gift from huf to karta

This query is : Resolved

Kamal Modi (Querist)
Follow

06 January 2016 My brother in law passed away man years ago. Since then, my own/real sister had become Karta of the HUF Firm. Now she wants to give me gift cheq of RS.10 L. Since, she can not afford to reduce her own capital in balance sheet by that amount, can she take gift from her HUF firm to her personal a/c? In that way, I, as a brother will not attract any tax on gift amount. Her children as co percerners will definitely have no objection to signing any gift deed between my sister & HUF firm.

Please advice.

Thanks,

Regards,

Kamal Modi

Ankur Singhal

Ankur Singhal (Expert)
Follow

06 January 2016 Dear
A HUF can not give gift to anyone.
Gift given by HUF is void-ab-initio.

Message likes : 1 times

gbalakrishnan

gbalakrishnan (Expert)
Follow

07 January 2016 Hindu undivided family means nothing is divided, when so how yr sister can give you a gift sir?

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rajat Khandelwal

efiletax

asmita gupta

Shraddha Pangam

Choudhary

Subscribe Now

Cheque gift from huf to karta

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA