Gift tohuf member by huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2012
can a HUF member receive gift from huf.
what will be tax ...
what will be tax ...
CA Pooja Agarwal
(Expert)
08 November 2012
since HUF cannot be treated as a relative,gifts reeived by the member in excess of rs .50000 will be taxable in his /her hands
CA PARAS BAFNA
(Expert)
10 November 2012
There is no tax on gifts received from relatives.
.
In the case of an HUF any member is treated as its relative and as a matter of general
understanding the reciprocal - that an HUF is a relative of any of its member also stands good. Any relationship indicates a two way approach.
.
An HUF can gift a reasonble amount to its member. What is reasonable, has to be observed from the facts and situation of the case.
.
.
In the case of an HUF any member is treated as its relative and as a matter of general
understanding the reciprocal - that an HUF is a relative of any of its member also stands good. Any relationship indicates a two way approach.
.
An HUF can gift a reasonble amount to its member. What is reasonable, has to be observed from the facts and situation of the case.
.
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