Gift to huf from karta
This query is : Open
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?
28 January 2013
The Gift is tax free. Income is clubbed in the hands of Karta . Section 64(2).
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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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