Gift by huf to member
This query is : Resolved
17 June 2016
A HUF consists of Karta, wife of Karta and three children. The wife of Karta of HUF is receiving immovable property from HUF as gift. Is there any tax consequence or it would be termed as gift from relative and thus have no tax implication?
Rupesh Jain
(Expert)
17 June 2016
its will tax free but any income from the property will be taxable in hand of HUF.
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