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Gift to huf

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(Querist)
02 January 2015 Can Father's HUF give gift to his Son's HUF???
If yes then how taxbility determines??
Whether it is exempt or taxable?
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
02 January 2015 Father's HUF is not a member of son's HUF hence for sons' HUF it will be non relative and therefore any gift above Rs. 50000/- from father's HUF will be taxable in the hands of son's HUF.
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Rupesh Jain

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Rupesh Jain (Expert)
02 January 2015 yes, you can gift upto rs. 50000/- other wise it will be taxable.




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