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Huf

This query is : Resolved 
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(Querist)
28 November 2014 According to Sec 56, a HUF can receive gift from any of its member, since member of HUF is considered to be a relative in Income Tax Act 1961.

Can a HUF give taxfree gift (movable / immovable) to any member of HUF?
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Rupesh Jain

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Rupesh Jain (Expert)
28 November 2014 GIFT WILL NOT TAXABLE BUT INCOME FROM THE GIFT WILL TAXABLE IN HAND OF HUF.
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swasti

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swasti (Querist)
28 November 2014 But clubbing provisions u/s 64(2) states that if gift is made by individual to HUF and if any income arises out of that then clubbing would be made in the hands of individual.
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Rupesh Jain

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Rupesh Jain (Expert)
29 November 2014 this section tell the clubbing of income arise from the gift. gift is not taxable .

yes it is correct. as 64(2)
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