Transfer from huf

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11 Points Posted on 09 June 2020
is there any way to take gift from brother's huf without being taxed??
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On 09 June 2020 at 15:40 Report
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This discussion explores ways to receive assets from a brother's HUF without incurring tax. It suggests that a partial or total partition of the HUF, followed by a gift transfer from the brother, might be tax-exempt under Section 47(1). Alternatively, taking a loan from the HUF and repaying it later is proposed as a tax-efficient strategy.

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133 Points Posted on 09 June 2020
Do total or part partation of HUF(brother) and the asset received from huf to your brother will not be taxable as per section 47(1) and after the asset is received by brother transfer it to yourself by way of gift to relative as TRF of asset by way of gift to relative is not taxable
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On 09 June 2020 at 23:57
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11 Points Posted on 10 June 2020
Thanks
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On 10 June 2020 at 00:06
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10 Points Posted on 16 June 2020
If HUF gives gift to anyone then it will be considered to be partial partition. It is advisable to take loan from HUF and return it once purpose is served.
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On 16 June 2020 at 21:26

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