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Huf tax benefit

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 May 2015 Dear Sir,

If my father give me a more than Rs.50,000/- by chq/cash then what will be the tax effect....
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
11 May 2015 No tax effect as gift received from relative is exempt.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
11 May 2015 covered u/s 56 definition of relatives hence no tax is applicable.
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