Can a HUF give a gift (whether in cash or kind) to karta's married daughter?
if yes, whether it is exempted u/s 56?
3 Replies
Naman jain
(student)
(45 Points)
Replied 30 August 2019
As per my opinion it is taxable under the defination of relative.
please refer "gyanchand m bardia VS ITO CASE 2018" for further reference
please refer "gyanchand m bardia VS ITO CASE 2018" for further reference
Kapadia Pravin
(17264 Points)
Replied 30 August 2019
After 2005 amendment, the daughter has been recognized as a coparcener and her marital status makes no difference to her right.
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