Hi, My father wants to form an HUF along with by brother and would like to infuse his retirement fund to the HUF as a capital,
Shall it be taxable in hands of HUF, as it is a transfer from specific relative.. or shall we transfer the funds as gift from relative with out tax in hands of HUF. please suggest .
It will not be taxable as you will be coparcener to the HUF.
CAclubindia
