04 October 2015
Hello Experts...
I have a question for you.
Since if a karta transferes funds to HUF account from his personal account... Then any income deriving from such fund is taxable in the hands of individual as per the clubbing provision.
What if the HUF upon receiving money from individual invest the funds in stock market and after one year he sells all the stocks liable for 0% Long term Capital gain... This sales proceeds he invests in FD... What will be the treatment of interest from such an FD ? Will this be taxable in the hands of HUF or Individual??? Will the clubbing provisions still apply?
CAclubindia
