i m an individual taxpayer,can i gift 5laks to my self huf file, whether taxable?
pls send reference link.
Please refer section 56 of Income Tax Act
2 Replies
harish prajapati
(97 Points)
Replied 26 December 2019
As per section 56(2) any gift to relative is exempt and Relatie of huf is member. so 5lakh given by member to huf is exempt.
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