Gift to son's huf
This query is : Resolved
PRANAY JAIN
(Querist)
28 December 2014
Can my father gift as sum of Rs.5.0 lac to my HUF without any tax implicaitons.
28 December 2014
only when the donor and reciever are part of the huf the its exempted from tax.
CA Ayush Agarwal
(Expert)
28 December 2014
You are the Karta, & HUF Received Gifts from Karta's Father, Its Taxable.
Pl Read with Definition of Relatives, No where This Relative is mentioned.
Regards
CA Ayush Agrawal
Pl Read with Definition of Relatives, No where This Relative is mentioned.
Regards
CA Ayush Agrawal
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