HUF Related
This query is : Resolved
CA Chintan Parikh
(Querist)
07 March 2009
Indivisual (HUF ) receive a gift from Indivisual mama means Parent brother than cover under relative
Brief HUF receive gift from Indivisual Relative
Thanks In advance
Brief HUF receive gift from Indivisual Relative
Thanks In advance
CA.SHAHZAD SAYYED
(Expert)
07 March 2009
According to Sec 56(2)(vi) Gift Received from RELATIVES is totally exempt
The Definition of Relative contain the Mama as relative & hence Exempt from Tax
The Entry which you will Find is "Brother of Mother/Father of Individual"(Entry No.g&h)
The Definition of Relative contain the Mama as relative & hence Exempt from Tax
The Entry which you will Find is "Brother of Mother/Father of Individual"(Entry No.g&h)
CA.SHAHZAD SAYYED
(Expert)
07 March 2009
According to Sec 56(2)(vi) Gift Received from RELATIVES is totally exempt
The Definition of Relative contain the Mama as relative & hence Exempt from Tax
The Entry which you will Find is "Brother of Mother/Father of Individual"(Entry No.g&h)
The Definition of Relative contain the Mama as relative & hence Exempt from Tax
The Entry which you will Find is "Brother of Mother/Father of Individual"(Entry No.g&h)
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