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Transfer from huf
is there any way to take gift from brother's huf without being taxed??
Replies (3)
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
Thanks
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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