Money or property gifted by a member to an HUF may not be taxable in the HUF’s hands because of the “relative” exemption. But the tax consequence for income generated from such property is different. This article explains why transferring self-acquired assets to an HUF does not provide the intended tax-saving benefit.
Read more at the source
Disclaimer: The content of this post is sourced from external sites and is for informational purposes only. All rights and credits belong to the original authors and publishers.