Gift from HUF

Rajesh Bordia (Trader) (30 Points)

03 December 2008  

My father is Karta of his HUF. Myself, my mother and my father are member of his HUF. My question is whether my father can make gift from his HUF (in cash by bank transfer) to all of  his HUF's members and to my HUF who is not member of my father's huf ? Is there any upper limit for gift amount ? Please give exact law para. Thanks for help.