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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2017 CAN A KARTA OF HUF GIFT OF RS 500000 TO HIS DAUGHTERS DAUGHTER.IS IT TAXABLE IN THE HAND OF DONAR?
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
20 June 2017 Yes same is exempted as gift from relative is exempt.
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Studentsca

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Studentsca (Expert)
20 June 2017 Exempt Advisable to prepare a Gift deed.
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
13 October 2021 Generally, AO do not allow such gifts to be given to grand daughters, as for HUF they are not relatives.

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