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Gift to huf

This query is : Resolved 
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(Querist)
13 October 2015 I'm karta of my HUF. My HUF is gift Received from my father and father in law ( Rs. 8 lac). please clear what is tax laibilities ? who is laible pay to tax.
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praveen

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praveen (Expert)
13 October 2015 Gift received from members of the HUF is exempt. Since your father and father in law are not members of the HUF it will taxable in the name of the HUF.

Contact me at mrpraveen@live.com for more details.
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