Relative of HUF
This query is : Resolved
31 January 2010
Gift received from relatives are Exempt.
Who will be considered as as Relative of HUF in case of Gift u/s 56(2)?
In My point of view no one can be considered as relative of HUF for the purpose of Gift.
Can some help in with reference to Case Law
Who will be considered as as Relative of HUF in case of Gift u/s 56(2)?
In My point of view no one can be considered as relative of HUF for the purpose of Gift.
Can some help in with reference to Case Law
Aditya Maheshwari
(Expert)
23 April 2010
A plain reading of provisions of section 56(2) defines relative as
Explanation.—For the purposes of this clause, “relative” means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) brother or sister of either of the parents of the individual;
(v) any lineal ascendant or descendant of the individual;
(vi) any lineal ascendant or descendant of the spouse of the individual;
(vii) spouse of the person referred to in clauses (ii) to (vi);]
So there cannot a relative of HUF as the same are for individuals only.
Explanation.—For the purposes of this clause, “relative” means—
(i) spouse of the individual;
(ii) brother or sister of the individual;
(iii) brother or sister of the spouse of the individual;
(iv) brother or sister of either of the parents of the individual;
(v) any lineal ascendant or descendant of the individual;
(vi) any lineal ascendant or descendant of the spouse of the individual;
(vii) spouse of the person referred to in clauses (ii) to (vi);]
So there cannot a relative of HUF as the same are for individuals only.
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