Gift to huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 March 2015
1.Can members give gift to huf ?
What is taxibility in hands of members & huf?
Have any case laws for this .
2. If Individual (member) convert his own property in huf's property then what is taxbility in the hands of huf & individual (member)
What is taxibility in hands of members & huf?
Have any case laws for this .
2. If Individual (member) convert his own property in huf's property then what is taxbility in the hands of huf & individual (member)
04 March 2015
1. Yes members can give gift to HUF. No taxability in the hands of HUF as its members are its relatives.
2. As per section 64, if any individual converts his own property into his HUF's property on or after 1.1.70 than any income derived out of such property by HUF will be deemed to be income of that person itself that is will be clubbed with the income of that person only. This will also applicable in case of gift by members to HUF.
2. As per section 64, if any individual converts his own property into his HUF's property on or after 1.1.70 than any income derived out of such property by HUF will be deemed to be income of that person itself that is will be clubbed with the income of that person only. This will also applicable in case of gift by members to HUF.
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
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- ITDS U/S.194T of Firm
- Difference between Date of Payment and Date of Deduction?
- GST Rate for Catering Services
- FCRA 6 E- Intimation
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- Non-Compliance documents have not been submitted by the contractors debited
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
