gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2011
can a minor take gift from his/her father huf and/or from grand father huf
26 June 2011
Gifts are taken but before it these are given first. Gifts to minor from relatives is not taxable. HUF of which he is a member can also give Birthday Gift or occasional small amount can be received as gift from HUF.
However, HUF can not gift outsiders if the amount involved is high.
However, HUF can not gift outsiders if the amount involved is high.
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