Cash gifts received by HUF from his members to the extent of Rs. 75,00 – McqOptions

MCQOPTIONS

1.	Cash gifts received by HUF from his members to the extent of Rs. 75,000 will be treated as income of:
A.	The HUF
B.	The members
C.	None, as it is exempt
D.	Both the HUF and the members
Answer» C. None, as it is exempt

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