Question ID :
31730
GIFT FROM HUF TO ITS KARTA
Please advice me, whether gift received from HUF by its KARTA is taxable or exempt. In view of definition of relative in sec. 56 of the Income Tax Act 1961, whether such gift received by KARTA of HUF from his own HUF, comes under the definition of relative and accordingly whether it is exempt?
Posted by
MAHADEO VIRUPAX WALI
on
Jul 05, 2018
Filed Under
Income from Other Sources
Yes taxable
Posted by
SURAJ KUMAR CHOUDHARY on
Dec 04, 2023