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 ????
CA.SHAHZAD SAYYED
(Expert)
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
CA.Tarun Maheshwari
(Expert)
10 March 2009
I am also of same view. We also need views from our seniour members.
Message likes :
1 times
CA Sanjeev Kr Jain
(Expert)
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
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
