Gift to son's huf... taxable or not?

2371 views 5 replies

Can a HUF receive gifts from mother/father of its KARTA without invoking Clubbing Provisions??

Replies (5)
Clubbing provisions are not applicable in this case.. I think it will taxable u/s 56..

HUF can receive gifts from mother/father of its KARTA without invoking Clubbing Provision but when it will received gift then it will be taxable under section 56(2)(vii):
Finance act 2012 there has been an amendment that HUF is also relative of member of HUF here only member is covered but not relative of relative of member of HUf.

So it wil be treated as taxable gift if it exceeds Rs.50,000

Reference to Section 56(2)(vii) has rightly been made.

However, please note that there are only 9 movable and immovable properties for which this section applies.

And there is also the limit of Rs 50k.

No clubbing u/s 64 in this case. If mount exceeds Rs.50000/-, the whole of the Gift is taxable

Yes though no clubbing provisions will be applicable in this type of transaction entire gift will be taxable in the hands of HUF if the gift is more than Rs. 50000/-


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details