Gift

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(Querist)
29 December 2013 Gift from HUF to Its member are exempt or taxable? Can Huf give the gift to its coparcener? Please give the appropriate references. however it is clear that huf can receives gift from its member but can vice-e-versa is possible?
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
30 December 2013 yes it would be exempt. Refer 46 SOT 97
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
30 December 2013 yes there is no taxablity in this case.
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