Huf

This query is : Resolved

Querist : Anonymous

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?

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

Querist : Anonymous

Querist : Anonymous (Querist)

06 October 2017 No, she is not a member

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

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