Dear All
Up to best of my knowledge, a HUF receiving gift from any person up Rs. 50000/- in a financial year is not taxable in hand of the HUF. Pls. Confirm.
Suresh Savaliya
9987091267
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Gift by father to his son's HUF
Replies (2)
absolutely, there is no restriction on the person giving the gift as long as the amount does not exceed Rs.50000/-
gift received upto Rs 50000/- is not taxable..
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