Hi, My father wants to form an HUF along with by brother and would like to infuse his retirement fund to the HUF as a capital,
Shall it be taxable in hands of HUF, as it is a transfer from specific relative.. or shall we transfer the funds as gift from relative with out tax in hands of HUF. please suggest .
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HUF - Amount Gifted By Its Member (Relative) Tax?
Replies (2)
It will not be taxable as you will be coparcener to the HUF.
No, it will not be taxable. Treat it as capital receipt.
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