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Gift to huf from karta

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(Querist)
28 January 2013 Can HUF take gift from its karta? Will it be tax free? Also will the income generated from this gift be clubbed in karta's income or will it be HUF's income?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
28 January 2013 The Gift is tax free. Income is clubbed in the hands of Karta . Section 64(2).
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Vinit Bansal

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Vinit Bansal (Querist)
29 January 2013 The section u are talking about speaks about only the income from converted property. Not about gift in cash.
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