I am Individual having incomemore than 10 lakhs. I am the kartha of HUF also. I have gifted Rs.85000 in the FY 2015. This year I want to gift Rs.2.5 lakhs to HUF. Calculation of TAX in the hands of Individual and HUF?
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Income tax gift by karta to huf treatment
Replies (2)
You have to pay tax over your income.
The tax-paid capital you can gift to HUF without any tax liabilty over Karta or HUF... ......... but clubbing provision applies.
What is the implication of Clubbing provision?
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