Finology
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Gift from HUF to individual member

This query is : Resolved 

14 May 2022 Hi Experts
Can an Individual receive gift from HUF. Is it exempted or taxable u/s 56(2)(x), as the relative definiton does not include HUF.Please Clarify

14 May 2022 Members of huf can receive gift from huf it's not taxable. It's considered as gift from relative.
HUF is group of relatives.



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