1. Any Gifts in cash or in kind received by a HUF from its Members are Tax Free.
2. Also Gift received by any person from any *Relatives is Tax Free.
Conclusion:-
Hence, a member of HUF can receive gift from their *Relatives and subsequently may gift the same to their HUF.
3. Any sum of money received on occasion of Marriage from any person (whether relative or stranger) is completely Tax Free.
4. Any Gift received from a stranger upto of Rs 50,000/- is Tax Free.
5. Ancestral property inherited by way of will / gift is Tax Free.
6. Also, this property can be further transferred by Member to its HUF as a Gift.
7. Members can transfer their own property as gift to its HUF.
8. Member can give Interest free Loan to their HUF (condition applied: such sum is out of their own saved & taxed funds, not borrowed)
##Who is a*Relative for YOU
§ Your Spouse (पति /पत्नी)
§ Your Brother or Sister (भाई / बहन)
§ Your Spouse’s Brother or Sister (जेठ ,देवर , नन्द / साला, साली)
§ Your Father’s Brother or Sister (ताऊ / चाचा / बुआ)
§ Your Mother’s Brother or Sister (मामा / मौसी)
§ Your Lineal Ascendant or Descendant (आपका नज़दीकी वंशज)
§ Your spouse’s Lineal Ascendant or Descendant (आपके पति /पत्नी का नज़दीकी वंशज)
§ Spouse of above referred persons (ऊपर दिए गए सभी के पति / पत्नी)
No comments:
Post a Comment