Huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 October 2017
Mother of karta of huf has given Rs. 3 lacs in cash as gift to HUF. Is it allowed and whether it is exempt under income tax?
06 October 2017
is mother coparcener/member of that HUF?
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 October 2017
No, she is not a member
06 October 2017
then she can gift subject to provisions of section 56 of income tax act
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