Hi Everyone.
I want to know about HUF gift.
1. Can a HUF gift to HUF?
2. Can an individual (Relative of Karta) gift to HUF?
3. Its is taxable in HUF hands or not if it is non taxable than what is limit and if it is taxable in which section it is taxable.
Please also provide me Gift Deed for condition one or two.
With Regards.
Manu
HUF CAN GIFT ......BUT THE AMOUNT GIFTED SHOULD BE REASONABLE AND NOT SUBSTANTIAL CONSIDERING NET WORTH OF HUF........THIS IS BECAUSE KARTA CAN NOT DO SO WITHOUT THE COPARCERNERS CONSENT
Shyam S Gupta and Company
New Delhi
CA Inter
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Varma Raja & Associates
Thrissur
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Arpan Bohra & Co
Hyderabad
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CCI
Pro
CAclubindia
