gift from mother

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7 Points Posted on 30 March 2019
my mother got property via sale deed and gave for development. now if she gifts flat me. shall I take as huf asset or individual asset.
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On 30 March 2019 at 08:35 Report
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Practicing Chartered Accountant
2481 Points Posted on 30 March 2019
individual asset
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On 30 March 2019 at 09:25
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Student
1628 Points Posted on 30 March 2019
Agree with @ Sahil sir
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On 30 March 2019 at 09:32
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other
295 Points Posted on 30 March 2019

Yes, it should be taken as individual asset, to save tax liability over the gift.

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On 30 March 2019 at 09:38

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