Gift received from huf
This query is : Resolved
02 September 2013
Dear sir,
If Mr.A has received 1 cr. as a gift from his father (HUF Karta) on his marriage occasion 3 yrs ago. Now his father died. now Mr. A received that amount. If it exemption sec 10(2), what is are documentation we have to show that amount as a gift.
And we can directly invest that amount in a business.
If Mr.A has received 1 cr. as a gift from his father (HUF Karta) on his marriage occasion 3 yrs ago. Now his father died. now Mr. A received that amount. If it exemption sec 10(2), what is are documentation we have to show that amount as a gift.
And we can directly invest that amount in a business.
02 September 2013
Gift received from a relative is exempted as per explaination to sec 56(2).
Yes u can directly invest money.
Yes u can directly invest money.
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