Gift from Relative of members of HUF should also be tax free!

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Someone Asked on Yahoo Group-Answered By MeA relative of Karta of HUF gives gift of Rs. 4,00,000 to HUF. Whether the above gift is exempt or taxable u/s 56(2)(vi). Can HUF have relation with relative of Karta of HUF. If taxable, can HUF avail benefit of sec 80C and basic exemption limit for purpose of…

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