Gift to HUF

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Suchi (Querist)
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26 March 2009 What would be the taxability of gift received by father or mother to their son's HUF in the hands of the HUF?

CA ABHISEK KUMAR SINGHANIA

CA ABHISEK KUMAR SINGHANIA (Expert)
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26 March 2009 ur question nt clear...

Suchi

Suchi (Querist)
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26 March 2009 k.. i restate the question..........

if father/ mother gifts a sum of money exceeding Rs. 50,000 to the son's HUF, then what would be the taxablitiy of the gift money in the hands of HUF?

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CA LOKESH KASAT, FCA, M.Com

CA LOKESH KASAT, FCA, M.Com (Expert)
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26 March 2009 Dear Suchi,

Fully taxable, as HUF can't have father or mother, their was a famous case law on this, even this question is being asked manier times in the club. Income tax also clarifies that HUF can't have relative