Gift
This query is : Resolved
22 April 2018
Can an individual give gift to huf? If yes, any limit for giving monetary gift or any procedure to be followed ?
22 April 2018
If the individual is a member of HUF, tax free in the hands of HUF. If not a member
please see section 56(2)(x) of the Income tax Act,1961 for the limits/ taxation etc.
please see section 56(2)(x) of the Income tax Act,1961 for the limits/ taxation etc.
Message likes :
4 times
04 May 2018
Please advise about any procedure to be followed for availing exemption for gift received by huf. Also please advise whether unmarried daughter is a member of huf or not? Thanks in advance.
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