can huf give gift to members. if yes then whether income from such property is clubbed or not
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Huf
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No HUF cannot give gift to its members. If it does, it is taxable in the hands of members. This is because Income tax does not recognise partial partition of HUF. Share received by its member from HUF at the time of partition is exempt.
Hello Saurav
What is the procedure to have full partition of the HUF, when the HUF has long term investments having lock in period of 5 years? eg. tax saving scheme of SBI
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