can HUF Receive aGift more than 25000

Pl. go through sub clauses (i) & (vi) of section 56(1). Exemption for gifts receeived from relatives, restricted only for individulals.

As per SEc.56(1)(v), any individual or HUF shall have that amount to be taxed as income which is recieved without consideration, as exceeding, upto 1/4/06, Rs.25000 and after 1/4/06, Rs.50000, the whole of such amt. And such amt. shall not be taxed if it is recieved from relative. And the word 'relative' means the same as explanation to the said clause provides, viz; (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)