Huf
This query is : Resolved
brij bhushan gupta
(Querist)
21 July 2014
sir ,(1) karta can purchase property on name of his wife from his huf capital or not (2) karta can gift to his wife from his huf capital to purchase property or not please answer
CA Parul Saxena
(Expert)
21 July 2014
karta can purchase property from capital and this will be treated as drawings and gift this property to his wife.
brij bhushan gupta
(Querist)
21 July 2014
please elobrate it ,karta can give gift to his wife if yes what is tax implication
brij bhushan gupta
(Querist)
21 July 2014
please elobrate it ,karta can give gift to his wife if yes what is tax implication
CA Parul Saxena
(Expert)
21 July 2014
no tax implication as tax received from a relative is exempt from tax.
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brij bhushan gupta
(Querist)
22 July 2014
sir ,i want to purchase a property from my huf capital on the name of my wife ,what should be way for this purchase ,by gift to my wife from my huf or direct payment to sellar from huf to purchase property on the name of my wife . any tax implication
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