HUF
This query is : Resolved
05 March 2009
Who is the Relative OF HUF
My opinion that Individual relative are consider HUF relative I M Right
My opinion that Individual relative are consider HUF relative I M Right
05 March 2009
Relative of KArta
05 March 2009
Dear Chintan,
As per my point of view
Income tax doesnt define relative for HUF. Therefore an assessee, being a HUF is not eligible to claim exemption provided by clause dealing with 'gifts received from relative' and 'gifts received on ocassion of marriage'.
I believe thier is a Case law on it which I have read during my CA Final examination, probably in T.N. Manoharan which provide the same answer as of mine.
As per my point of view
Income tax doesnt define relative for HUF. Therefore an assessee, being a HUF is not eligible to claim exemption provided by clause dealing with 'gifts received from relative' and 'gifts received on ocassion of marriage'.
I believe thier is a Case law on it which I have read during my CA Final examination, probably in T.N. Manoharan which provide the same answer as of mine.
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