hello
Is the gift received by HUF exempt, please expiain this..
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 25 March 2009
Upto 50000/- or on specified circumstances as mentioned in S 56(2)(vi).
M.M.SURANA
(Director -Taxation )
(532 Points)
Replied 13 April 2009
Ms. Indu
I agree with Mr. Rajesh kumar.But keep in mind there is a specific format of Gift Deed /declaration for HUF. If U need Pl call me.
Surana, Chennai
9952967237
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