Gift provision
This query is : Resolved
21 August 2017
A is a Karta of HUF. Mother of A wants to make a gift of Rs.700000 to the HUF. Please advise me how to make such transfer so that the tax liability become nil in the hands of both.
Sashank Dundu
(Expert)
22 August 2017
Since the mother is also a coparcenor and member in the HUF, any gift by a member to the HUF is not taxable.
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