Cheque gift from huf to karta
This query is : Resolved
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
Please advice.
Thanks,
Regards,
Kamal Modi
06 January 2016
Dear
A HUF can not give gift to anyone.
Gift given by HUF is void-ab-initio.
A HUF can not give gift to anyone.
Gift given by HUF is void-ab-initio.
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07 January 2016
Hindu undivided family means nothing is divided, when so how yr sister can give you a gift sir?
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