HUF
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 June 2010
Who can give gift to HUF so that it is tax-free in the hands of HUF and is there any limit to it...?
21 June 2010
IF HUF RECEIVES GIFT, IT IS TREATED AS INCOME. NON-TAXABLE GIFT CAN BE RECEIVED ONLY FROM RELATIVES. AS HUF IS NOT A NATURAL PERSON, MEMBERS OF HUF ARE NOT ITS RELATIVES.
21 June 2010
upto 50000 is not taxable in the hands of huf beyond that than full amount received will be considered as income.
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