HUF Related

This query is : Resolved 

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

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)

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)


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