Gift from big huf to small huf
This query is : Resolved
14 January 2016
Is it correct that gift made by Big huf, any amount, to Small huf is exempt and not taxable and income earned on such gift becomes the income of Small huf ?
14 January 2016
Dear Anil
A HUF can not make any gift to anyone.
Gift made by HUF is void ab initio.
A HUF can not make any gift to anyone.
Gift made by HUF is void ab initio.
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