Gift from HUF - HUF can be treated as a ‘relative’ under the ...

Income Tax

August 5, 2015

Gift from HUF - HUF can be treated as a ‘relative’ under the provisions of section 56(2) so as to exclude the amount received from HUF by the assessee-individual - amount of gift is not taxable - AT

View Source

← Previous Next →

Gift from HUF - HUF can be treated as a ‘relative’ under the ...

Income Tax

August 5, 2015

You may also like:

Gift received – definition of 'relative' as provided under Explanation to section 56(2)(v) - The amount received by the assessee from mother's sister's son does not...

Taxability of the amount received by the assessee from his HUF, in which he is a coparcener - money received without consideration -Taxability of gift received by the...

Addition as gift from assessee HUF which was exempted u/s 56(2)(VII) - The amount spent may be more than that the member may have gotten on the partition of the 'HUF'....

Receipt of Gift from HUF - income from other sources - whether HUF comes under the term ‘group of relatives’ defined u/s 56(2)? - Held Yes - Receipt of Gift from HUF -...

Gift u/s 56(2) (vii) - scope of term relatives u/s 2(41) - Grant of exemption from income tax on gifts received - relatives as defined under Section 2(g) of the Senior...

Hindu Undivided Family (HUF) or its Karta cannot become partner/ Designated Partner (DP) in Limited Liability Partnership (LLP) - Circular

Receipt by the assessee from the HUF of which the assessee was the member - treated as gift received from the relative (group of relatives) - Not Taxable u/s 56(2) r.w.s....

Assessment u/s 171 - partial partition or complete partition - immovable property of the HUF had been gifted to certain members - AO treated the same as partition of a...

Addition u/s 56 - the assessee-HUF has received a gift of Rs.7 lacs from a relative who is an uncle of the Karta of this HUF - brother or sister of either of the...

Additions u/s 56 - The gifts received from the close relatives u/s 56(2)(v) are outside the scope of 56(2). - The surrender of the rights of the close relatives in...

Quick Updates: