Easy Office
LCI Learning

cash Gift from HUF

This query is : Resolved 
Profile Image

Profile Image

(Querist)
24 September 2010 can a HUF Gifts cash more than Rs50000 to it's member ?. can we tell HUF and It's member as blood relation. Because all HUF members are blood relation.
Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Expert)
25 September 2010 yes they can, because non relative can't be become member of HUF
Profile Image

P.Senthilraja

Profile Image

P.Senthilraja (Querist)
25 September 2010 thank you for your kind reply sir. my doubt is, the relationship between HUF and it's member are "relative" as mentioned u/s 56(2) ?
Upgrade to CAclubindia Pro. Subscribe Now!

Profile Image

CMA Arif Farooqui

Profile Image

CMA Arif Farooqui (Expert)
01 October 2010 no, although they may be relative in real life but as per income tax they are member of HUF. only individual can have relative.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links