Menu
Gift from/to HUF
Hey can Huf " Karta" can gift/accept the gift to/from thier HUF member ?? what is taxation on it ..??
Replies (4)
Quick Summary
Yes, There will be no tax liability will arise if they come under the definition of relative .
If member receives any amount from karta without there being a partial or total partition of huf, then it'll be taxable in the hands of member bcoz karta does not fall under the definition of relatives. if karta receives from members there's no tax implications
HUF receive gift from anyone. If it gives gift then it will be considered as partial partition. If self acquired property of member is transferred to HUF then income from transferred property will be clubbed in the income of such transferor.
Recent Topics :
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
Related Topics :
CAclubindia
