Gift received by huf from karta
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 June 2015
GIFT (MONETARY AND SHARES & SECURITIES)RECEIVED BY HUF FROM ANY MEMBER OF HUF WILL ATTRACT ANY INCOME TAX LIABILITY IN THE HANDS OF HUF....?
CAN I GIFT SHARES FROM INDIVIDUAL DEMAT TO MY HUF....?
IF YES, WHAT'S ABOUT THE STAMP DUTY LIABILITY FOR THE STATE OF GUJARAT...?
CAN I GIFT SHARES FROM INDIVIDUAL DEMAT TO MY HUF....?
IF YES, WHAT'S ABOUT THE STAMP DUTY LIABILITY FOR THE STATE OF GUJARAT...?
19 June 2015
There will be no implications in the hands of HUF since gifts received by HUF from its members are exempt being members of HUF are its relatives under Income Tax Act.
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