Gift to relative

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 February 2012 CAN GIFT TO BE GIVEN FROM HUF ACCOUNT TO RELATION OTHER THAN HUF MEMBERS? OR VICE VERSA, IS IT EXEMPTED OR NOT? ORPLEASE CLARIFY ANY BODY.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 February 2012 GIFTS FROM HUF ARE GENERALLY ALLOWED TO BE MADE TO FAMILY MEMBERS OF A REASONABLE AMOUNT ONLY.
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TO THE OUTSIDERS HUF CAN NOT GIFT SUBSTANTIAL AMOUNTS. HOWEVER, REASONABLE AND ACCORDING TO THE PREVAILING CUSTOMS, GIFTS OF SMALL AMOUNTS ARE PERMITTED.
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Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2012 Sir,
Thank you for your reply.

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