DEAR,
CAN ANYONE (INDIVIDUALS) GIFT TO HUF AN IMMOVEBLE PROPERTY WITHIN TAX BOUNDRIES?
Menu
Gift to huf
Replies (4)
Yes........
But any rental income over the property will be clubbed to the individual member's account.
As per income tax members of an HUF will be treated as relative. gift to your own huf will not attract tax
huf does not fall under the purview of relatives hence the same will be taxed in the hands of huf under 56(2)(x) unless the individual is member of huf
For HUF its members are its relatives. So HUF can recive gift from its members irrespective of its value. In case of non relatives the threshold is Rs 50000/-.
But an individual who is a member of HUF is prohibited from transferring his own acquired property into the common pool of HUF, beware of clubbing provisions in this regard.
Recent Topic
- ITR-2 : cash income that does not fall under any h
- Debit note issued to supplier
- Ca pratik takkar imp list
- TDS EXECESS AMOUNT ADJUSTMENT
- What's the ONE thing about GSTR-2B / IMS reconcili
- Is GST Registration Mandatory for Freelancers in I
- ITR TO FILE
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
Related Topics
CAclubindia
