Gift by huf to its members

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 March 2015 Whether a HUF can pay gift in cash to its members ?

CA Anjana Grover (Expert)
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15 March 2015 Hi,

Gift by HUF can be treated as payment of share of that member & which is exempt under section 10(2) of Income Tax Act.

Regards

Rupesh Jain (Expert)
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16 March 2015 yes HUF can give gift to its member.

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