Dear All,
Can a HUF gift some of its assets (say shares/cash/immovable property) to one of its members. Is this gift comes under the purview of Relative and in turn is exempt U/s 56.?
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Gift from huf to coparcener-exempt u/s 56?
Replies (1)
YES IT IS EXEMPTED U/S 56.
Recently Finance Act,2012 has provided this exemption to huf also.
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