Gift to huf

ANIL GUPTA (Querist) 08 September 2011 This query is : Resolved
I am a NRI I want to gift money to the HUF of my father. I am a member of that HUF. Can I gift amount to hUF without attracting any Tax liability under the Income Tax Act?

Thanks in advance

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Raj Kumar Makkad (Expert) 08 September 2011
You can do so and there is no any tax liability for this purpose.

Sailesh Kumar Shah (Expert) 08 September 2011
Your query is relates Section 56(2)(vii)of the Income tax,1961. There is no tax liability under the Act.