Tax on gift
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2016
Does the member received Monetary Gift from the HUF is taxable in the hand of Member ?
25 January 2016
Yes ....huf not cover in relative definition
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 January 2016
Thanks for your Reply Mem.
27 January 2016
As per Section 56(2)(vii)(e) relative means....(ii) in case of a Hindu undivided family, any member thereof.
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