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Gift u/s 56 of th act

This query is : Resolved 
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(Querist)
22 October 2013
Respected Aryan Singhania Sir,

Thank you very much for your valued
opinion about the Gift.But,your answer to
the second part of my query is not clear,
in the sense,Can father become a member of
his son's HUf? If not,Will the gift made by
him to his son's HUF ( Recipient )be an
exemted income u/s 56 of the Act? Please
clarify.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
22 October 2013 A father can be a member of Son's HUF if the Son is karta of the HUF..
However, If father is the relative of the HUF, then section 56{2}{vii}does not attract and gift is not taxable in the Hands of HUF...
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 October 2021 No. Father cannot be member of SON HUF.
Gift given by father to SON HUF would be tax free upto the limit of Rs. 50000/-
If given more, total amount will be taxable (to SON HUF).
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