gift of immovable property to relative U/Sec 56
This query is : Resolved
23 April 2010
Can a HUF of Mr.X received gift of immovable property U/Sec 56 from daughter in law of Mr.Y (Brother of Mr. X)?
23 April 2010
A plain reading of provisions of section 56(2) defines relative as
Explanation.—For the purposes of this clause, “relative” means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) brother or sister of either of the parents of the individual;
(v) any lineal ascendant or descendant of the individual;
(vi) any lineal ascendant or descendant of the spouse of the individual;
(vii) spouse of the person referred to in clauses (ii) to (vi);]
So there cannot a relative of HUF as the same are for individuals only.
Explanation.—For the purposes of this clause, “relative” means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) brother or sister of either of the parents of the individual;
(v) any lineal ascendant or descendant of the individual;
(vi) any lineal ascendant or descendant of the spouse of the individual;
(vii) spouse of the person referred to in clauses (ii) to (vi);]
So there cannot a relative of HUF as the same are for individuals only.
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