Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Son's HUF - Can mother give gift?

ASN Professionals (Business Development) (78 Points)

22 November 2012

Can a mother give gift to Son's HUF without attracting Section 64(2)and Section 56(2)? She is not the member of his HUF.

Reply
Follow
Share

3 Replies

CA Bijoya (ca) (77 Points)
Replied 23 November 2012

if d mother give gifts to sons huf then sec 64(2) n 56(2) will be attracted since concept of exempting relatives applies only in case of individuals not in case of hufs..........

Upgrade to CAclubindia Pro. Subscribe Now!

ASN Professionals (Business Development) (78 Points)
Replied 23 November 2012

Originally posted by : bijoya

if d mother give gifts to sons huf then sec 64(2) n 56(2) will be attracted since concept of exempting relatives applies only in case of individuals not in case of hufs..........

Bijoya,

I found this section 56(2) (vii) (e) (ii) where it says that relatives applies to all members of HUF. This is recently added by Finance Bill 2012.