Gift : Members to HUF

18 December 2019

Can karta and / or members of HUF GIFT their personal income / property to HUF, if yes, to what extent?
regards

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5 Replies

Kapadia Pravin (17264 Points)
Replied 18 December 2019

Such gifts are within the definition of relatives and as such ----any amount or assets----- can be given as gift. it's tax exempt to Donee.

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Nostradamus !! (154 Points)
Replied 18 December 2019

& what about donor ?

Kapadia Pravin (17264 Points)
Replied 18 December 2019

No tax on Donor.

Nostradamus !! (154 Points)
Replied 18 December 2019

Please further just by drafting gift deed karta can donate immovable property to HUF irrespective of value of property..

Kapadia Pravin (17264 Points)
Replied 18 December 2019

That's right

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