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Gift received by HUF by member of HUF

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(Querist)
02 July 2022 Ok Thankyou
What if transferred by member himself to his HUF by cheque? Amount 10-15 lacs
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 July 2022 Gifts received by HUF from its members are exempted from Income Tax under Section 56(2)(vii) of the act.

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