Huf

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brij bhushan gupta (Querist)
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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

CA Parul Saxena (Expert)
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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

brij bhushan gupta (Querist)
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21 July 2014 please elobrate it ,karta can give gift to his wife if yes what is tax implication

brij bhushan gupta

brij bhushan gupta (Querist)
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21 July 2014 please elobrate it ,karta can give gift to his wife if yes what is tax implication

CA Parul Saxena

CA Parul Saxena (Expert)
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21 July 2014 no tax implication as tax received from a relative is exempt from tax.

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brij bhushan gupta

brij bhushan gupta (Querist)
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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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