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

Tax planning 2348 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
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details