WHEN HUF RECEIVES GIFT ( MONIES) FROM ONE OF ITS MEMBERS IT IS EXEMPT FROM GIFT TAX BUT WILL THE INCOME GENERATED FROM SUCH A GIFT BE CLUBBED WITH THE INCOME OF MEMBER FROM WHOM THE GIFT IS RECEIVED ?
Clubbing of income from monies gifted by member to huf
SURESH KUMAR (partner) (21 Points)
14 June 2019