Gift to huf
This query is : Resolved
08 November 2011
My Maternal uncle wants to gift...Rs. 1lac to my HUF...
after all his falling in the category of relatives...
I know that If he will gift me instead of HUF will be exempt to tax...
But if he gifts to my HUF then??
after all his falling in the category of relatives...
I know that If he will gift me instead of HUF will be exempt to tax...
But if he gifts to my HUF then??
08 November 2011
as HUF is not a person, but a virtual identity, it can not have relatives like a person, so normal gift tax provisions would apply.
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08 November 2011
THANX FOR SOLVING MY QUERY!!!
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