Gift received by HUF from Members

If amount exceeds 50k then taxable.

As per Explanation given under section 56(2) (vii) & (x)...for the purposes of these clause,—

(e)  "relative" means,—

 (i)  in case of an individual—

(A) spouse of the individual;

(B) brother or sister of the individual;

(C) brother or sister of the spouse of the individual;

(D) brother or sister of either of the parents of the individual;

(E) any lineal ascendant or descendant of the individual;

(F) any lineal ascendant or descendant of the spouse of the individual;

(G) spouse of the person referred to in items (B) to (F); and

(ii)  in case of a Hindu undivided family, any member thereof;

great

Originally posted by : Dhirajlal Rambhia
	As per Explanation given under section 56(2) (vii) & (x)...for the purposes of these clause,— (e)  "relative" means,—  (i)  in case of an individual— (A) spouse of the individual; (B) brother or sister of the individual; (C) brother or sister of the spouse of the individual; (D) brother or sister of either of the parents of the individual; (E) any lineal ascendant or descendant of the individual; (F) any lineal ascendant or descendant of the spouse of the individual; (G) spouse of the person referred to in items (B) to (F); and (ii)  in case of a Hindu undivided family, any member thereof;