Huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 March 2012
i will put my query in the form of an example.
There is a person X who has his HUF. He also has a brother, His brother has a son.
Now X's HUF has a piece of land which it wants to gift to the son of Mr. X's brother..
Is that allowed as per the hindu law and income tax act or not.
There is a person X who has his HUF. He also has a brother, His brother has a son.
Now X's HUF has a piece of land which it wants to gift to the son of Mr. X's brother..
Is that allowed as per the hindu law and income tax act or not.
06 March 2012
HUF cannot make a gift.
06 March 2012
HUF can make a gift.. however to note that the same shall not be exempt and it shall be taxable..
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