How much gift exemption for huf per year is allowed from relative of karta?
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Huf gift exemption
Replies (3)
As per act Gift from members of HUF are only exempt, as under defination of 'relatives of HUF'
But some case laws are in favour of assessee exempting gifts received by HUF from 'relatives of Karta'.
Thanks for reply sir, but my question is if I receive gift up to 2.5 lakh per year from my parents is it exempted r not and also the money earned from them?
To you individually, not taxable or no clubbing.
To your HUF directly by your parents; taxable.......... but via yourself....... (both transactions) non-taxable...... !!!
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