Gift by huf to its member
This query is : Resolved
Guest
Guest
(Querist)
23 January 2013
Can a HUF give a gift to its members .If it is possible in whose hands the income from these gift is taxable????
CA PARAS BAFNA
(Expert)
23 January 2013
HUF can gift upto a reasonable amount to any needy member of the HUF. However, it can not give such amount which results or generates income for the recipient.
.
The better options-
1. Give loan to a memebr
2. Give share out of the Income of the HUF.
.
.
The better options-
1. Give loan to a memebr
2. Give share out of the Income of the HUF.
.
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