Gift to huf from member
shruti Agrawal (Chartered Accountant) (44 Points)
18 December 2015shruti Agrawal (Chartered Accountant) (44 Points)
18 December 2015
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 18 December 2015
Ankit Taprania
(CA FINAL )
(542 Points)
Replied 18 December 2015
agreed , any gift to HUF by member is not taxable .
But gift of amount exceeding 50000 to other HUF is TAXABLE as not covered in defination of relative u/s 56(2)(vii).
Vishal Goel
(Chartered Accountant)
(1688 Points)
Replied 19 December 2015
Originally posted by : Poornima Madhava | ||
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Gift to HUF by its member is not taxable Gift (exceeding Rs.50,000) to any other HUF/person in which such person is not a member shall be taxable as it is not covered under exemption. For details: https://www.incometaxindia.gov.in/_layouts/15/dit/mobile/faqs/faq-questions.aspx?key=FAQs+on+Gifts+received+by+an+individual+or+HUF&k= |
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Agree with Poornima
Aravind
(student )
(48 Points)
Replied 19 December 2015
CA Prashant Nariya
(CA)
(49 Points)
Replied 19 December 2015
LIVE Course on Foreign Exchange Management Act (FEMA)(with recording)