09 January 2018
Gift from member of HUF to HUF is not taxable to HUF u/s 56(2)(x) but any income arising from it will be clubbed with member's income.In rest of the two cases it will be taxable to HUF however if the gift amount does not exceed Rs 50,000 nothing will be taxable and in case it exceeds Rs 50,000 whole amount will be taxable.
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