GIFT TO BROTHERS HUF BY A SISTER
This query is : Resolved
vipin minocha
(Querist)
19 October 2021
CAN A SISTER GIFT TO HIS BROTHERS HUF . HUF WAS CREATED BEFORE 2005.
Dhirajlal Rambhia
(Expert)
19 October 2021
Yes, sister can gift it to brother's HUF, but if your query is for tax-ability of the gift; It is taxable as per the act; but few case laws are in favor of assessee, declaring it as exempt u/s. 56(2) of the act.
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