Gifts to HUF,even if received from a relative are not exempt from tax.Any sum received by an individual or HUF,if it exceeds Rs 50,000,as per the provisions made in this year's budget,is entirely taxable.Exceptions pertaining to gifts received from relatives are there,but they exist for individuals only.So if an HUF receives any sum of money exceeding rs 50,000 entire sum will be taxed,even if the same is received froma relative of HUF.
