Gift to huf
This query is : Resolved
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?
If yes then how taxbility determines??
Whether it is exempt or taxable?
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.
02 January 2015
yes, you can gift upto rs. 50000/- other wise it will be taxable.
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