gift by karta
This query is : Resolved
SHRUTI GUPTA
(Querist)
06 July 2010
1. can karta make a gift (cash/kind) to any one of its coparcener out of HUF property?
2. whether consent of other coparcenrs is required?
3. if so possible ten wats the tax implication on doner n donnee?
2. whether consent of other coparcenrs is required?
3. if so possible ten wats the tax implication on doner n donnee?
Aditya Maheshwari
(Expert)
06 July 2010
To make a gift out of HUF woukd be like partial partion of HUF which is not allowed and hence the above transaction is not allowed.
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