The Income Tax Department has recently released an updated brochure explaining the situations when monetary gifts received by individuals or Hindu Undivided Family (HUFs) will not be charged to income ...

Want to get on someone’s good side? Help them out financially? Or, perhaps, just make them really happy? Give ‘em a gift! (Cash is always nice.) But if you’re in a gift-giving mood, and you have a lot ...

A single person who gives gifts of up to $19,000 each to several different recipients in a year won’t be affected by the gift tax and won’t have to file a gift tax declaration. But if you give several ...

A Hindu Undivided Family (HUF) is a unique entity recognized under Indian law, primarily for tax and inheritance purposes. However, there is often confusion about the difference between an HUF and its ...