gift received by huf from relative
This query is : Resolved
09 March 2009
gift received by idividual/huf from its relative is exempt .
but in relation to huf who is relative ??
relative of karta only or relative of all members to be considered ?????
any case law ????
but in relation to huf who is relative ??
relative of karta only or relative of all members to be considered ?????
any case law ????
09 March 2009
The Relative definition is quite vast and same as in case of individual
It's my own view that
Gift received by any member from his Relative in his individual capacity is treated as Gift from Relataive and hence Exempt
It's my own view that
Gift received by any member from his Relative in his individual capacity is treated as Gift from Relataive and hence Exempt
Message likes :
1 times
10 March 2009
I am also of same view. We also need views from our seniour members.
Message likes :
1 times
15 March 2009
GIFT RECD BY HUF IS NOT TAX FREE AS SAME IS NOT COVERED UNDER DEFINATION OF RELATIVE
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Booth for sales promotion
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
