Huf account rules

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2013 Sir,
Can we make the provision of gift and How much amount is not taxable..if there is no blood relation with the person we are gifting the amount..

please rplyyyy...

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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13 July 2013 An HUF can not make gifts to outsider.
.
A memeber of HUF can make gift.
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Entire Cash Gift amount from non-relatives is taxable when the aggregate amount so received exceeds Rs 50000/-.
.

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Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2013 sir is there any way to transfer the amount from huf account with out tax

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