Is gift received from HUF by a member of HUF tax free?

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Gift received from HUF is tax free or not was a great controversy . However,income tax tribunal, Rajkot in case of Vineetkumar Raghavjibhai Bhalodia vs ITO┬áhas held that the gift received from HUF by a member is exempt on two grounds the HUF is relative for its member Alternatively, the gift from HUF falls under…

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The author has spent twenty years with Income Tax department and desire to service common citizen of India which include professionals like tax practioners ,CA,ICMA, CS and tax lawyers by advising them on the direct tax matters for a very affordable fee.

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