Gift from individual to huf

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This discussion explores the possibility of an individual gifting money to a Hindu Undivided Family (HUF) with the aim of transferring interest income. While gifting is possible, it's important to note that such transfers may be subject to clubbing provisions, meaning the income could still be taxed in the hands of the individual. A practical tip suggests gifting amounts under £50,000 annually to manage this.

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(Querist)
14 February 2021 Sir,
If the individual can gift money to huf.purposes is to transfer interest income from individual account to huf.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
14 February 2021 Then also such sum is taxable due to clubbing provisions.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
29 November 2021 CORRECT. YOU CAN TRANSFER JUST LESS THAN 50,000/- EVERY YEAR!!!
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