Gift by father to son's huf
This query is : Resolved
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Naveen Kumar Jain
(Querist)
11 July 2021
Gift of more than 50000/- by father of Karta to son's HUF -is it taxable or exempt in hands of HUF?
CA R SEETHARAMAN
(Expert)
11 July 2021
It's taxable. Gift it to your son it's exempt.
CA Rashmi Gandhi
(Expert)
11 July 2021
There is no provision in Income Tax for exempting gift made to son's huf
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