Sir
1---We have an HUF and wish to gift some an amount by cheque to its member in his individual account.
Is it allowed and NO gift tax applicable being gift to relative ?
2---Father is having HUF with son and wish to gift an amount to the HUF of his SON that is gift from HUF to HUF. Is it allowed and not subject to Gift tax ?
Please respond
D K Aggarwal
Gifting Money from HUF to Members or Another HUF: Potential Gift Tax Implications Explored An individual inquired about the tax implications of gifting money from a Hindu Undivided Family (HUF) to its member's individual account and from one HUF to another HUF. The individual asked if such transactions are permitted without incurring gift tax, considering the recipients are relatives. The response from another participant indicated that, in their view, these transactions are not allowed. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
