GIFT TO HUF
This query is : Resolved
07 March 2009
CAN AB & SONS (HUF) HAVING 'A' AS KARTA OF HUF RECEIVE A GIFT OF RS. 5.00 LAC FROM HIS BROTHER B. IS BROTHER OF KARTA COVERED UNDER THE DEFINATION OF RELATIVE. PLEASE CLARIFY. THANKS. SUNIL BUTANEY.
07 March 2009
Yes u/s 56(2)(vi) Brother comes under the definition of Relative and hence HUF can Receiced the Gift
08 March 2009
As earlier opined and even there is case law, there is no concept of relative in case of HUF.
There is no clarity in law to this matter.
Even opinions of other experts are awaited.
There is no clarity in law to this matter.
Even opinions of other experts are awaited.
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