Gift to Son’s HUF
This query is : Resolved
02 August 2022
Dear Experts,
My Father wants to Gift Shares valuing 50 lakhs to my (Son’s) HUF. This Huf consists of me, my wife and my son. Can he transfer this dividend earning asset without attracting any tax. Please advice.
I read many articles But it has created more confusion, then giving clarity.
Also if yes, will there be any clubbing of income from the asset transferred for the donor.
Thanks in advance 🙏🏻
My Father wants to Gift Shares valuing 50 lakhs to my (Son’s) HUF. This Huf consists of me, my wife and my son. Can he transfer this dividend earning asset without attracting any tax. Please advice.
I read many articles But it has created more confusion, then giving clarity.
Also if yes, will there be any clubbing of income from the asset transferred for the donor.
Thanks in advance 🙏🏻
02 August 2022
To remove the doubts, let father gift it to son &/grandson (if major), which will be tax exempt.
In second step the son/GS can gift it to their HUF. [Direct gift to HUF is a bit disputable as far as tax liability is concern]..
There won't be any tax liability in both the steps. Yes, Income from the shares will be clubbed in donor's PAN.
In second step the son/GS can gift it to their HUF. [Direct gift to HUF is a bit disputable as far as tax liability is concern]..
There won't be any tax liability in both the steps. Yes, Income from the shares will be clubbed in donor's PAN.
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