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Huf

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 October 2017 Mother of karta of huf has given Rs. 3 lacs in cash as gift to HUF. Is it allowed and whether it is exempt under income tax?
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 October 2017 is mother coparcener/member of that HUF?
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 October 2017 No, she is not a member
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Amol S Joglekar

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Amol S Joglekar (Expert)
06 October 2017 then she can gift subject to provisions of section 56 of income tax act
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