Gift to huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 August 2018
I am karta of huf.can I and other members of huf firm give gift to huf in cash.what maximum amount amount of gift can be given in cash.
12 August 2018
Gift received by HUF from its members are exempt under Section 56(2)(x). Definition of “relative” in case of a Hindu Undivided Family covers any member thereof. It does not include relatives of such member. Thus, gift received by HUF from relatives of members shall be taxable.
If you receive The aggregate value of such sum of money received during the year exceeds Rs. 50,000.
If you receive The aggregate value of such sum of money received during the year exceeds Rs. 50,000.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2018
Could not get by meaning exceeds 50000
12 August 2018
If you receive 50000/-or more from members or coparcener gift in cash is taxable.
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