https://www.taxtmi.com/forum/issue?id=3849 Tax treatment of a gift from an HUF to a member depends on whether the HUF is treated as a group of relatives under the Explanation to section 56(2)(vi). Following ITAT Rajkot, gifts from an HUF to a member can be exempt as gifts from "relatives." However, the position is debatable and may be contested by revenue; practitioners therefore advise avoiding gratuitous transfers, or documenting transfers for specific purposes with consent of co-parceners and retention of the donee's membership. en-us Thu, 23 Feb 2012 16:18:21 +0530 Thu, 23 Jan 2025 15:58:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=3849 Tax treatment of a gift from an HUF to a member depends on whether the HUF is treated as a group of relatives under the Explanation to section 56(2)(vi). Following ITAT Rajkot, gifts from an HUF to a member can be exempt as gifts from "relatives." However, the position is debatable and may be contested by revenue; practitioners therefore advise avoiding gratuitous transfers, or documenting transfers for specific purposes with consent of co-parceners and retention of the donee's membership. Discussion-Forum Income Tax Thu, 23 Feb 2012 16:18:21 +0530 https://www.taxtmi.com/forum/issue?id=3849