Cheque gift from huf to karta
This query is : Resolved
Kamal Modi
(Querist)
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
Ankur Singhal
(Expert)
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.
Message likes :
1 times
gbalakrishnan
(Expert)
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
