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Huf query

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(Querist)
21 March 2012 Can karta give gift to his own HUF ? Is income generated from such gift taxable in the hands of karta or HUF ?

What happens if he gives loan to HUF.
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CA. Vinod Agarwal

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CA. Vinod Agarwal (Expert)
22 March 2012 Yes he can gift. Income generated should be clubed with the income of the karta. Also he can give loan.

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