GIFT FROM HUF

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iaxminarayan bhattad (Querist)
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03 November 2010 If HUF gives gift to his Daughter-in-law Rs. 2,00,000/-

1) on 03/11/2010 what is it effect?
2) On 01/04/2005 the what is it effect?

is it effect on both parties?
and
Is HUF qive gift to any one?

Aditya Maheshwari

Aditya Maheshwari (Expert)
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03 November 2010 First of all HUF is not a real person. So it cannot have any relatives. And secondly giving gifts would be considered as partial partition of HUF which is not allowed as per Income Tax act.

iaxminarayan bhattad

iaxminarayan bhattad (Querist)
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03 November 2010 thanks sir

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