Gift
This query is : Open
22 July 2016
Dear Sir,
My question is that Can huf give gift or receive from its members?
what is the taxability of above transaction?
My question is that Can huf give gift or receive from its members?
what is the taxability of above transaction?
24 July 2016
Yes, the gift by itself is not taxable but any taxable income earned thereon will be taxable in the hands of the transferor.
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