How much gift exemption for huf per year is allowed from relative of karta?
JIGAR PATEL (15 Points)
20 February 2018How much gift exemption for huf per year is allowed from relative of karta?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174927 Points)
Replied 20 February 2018
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'.
JIGAR PATEL
(15 Points)
Replied 21 February 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(174927 Points)
Replied 21 February 2018
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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