Bank loan to huf
This query is : Resolved
Kamaldeep Singh
(Querist)
17 December 2011
Hello everybody.Well my knowledge regarding HUFs is not very sound and I have come across a question that why Banks don't take much interest in granting any loan to HUFs. Well is this true??? and if it is wat are the reasons behind it...?
I need help...can somebody please explain this?
Thanks.
I need help...can somebody please explain this?
Thanks.
Guest
Guest
(Expert)
17 December 2011
Since HUF credibility and creditworthiness are not very good in the market so banks are reluctant to give loans to HUF.
CA Hardik Bunha
(Expert)
17 December 2011
Scope of Huf is limited. It is true that HUF is One seperate entity for income tax but overall it is nothing.
17 December 2011
agreed with experts
because HUF has artificial status in income tax act...trend of HUF start because HUF easy to form and profits exempt in the hands of members of huf.
because HUF has artificial status in income tax act...trend of HUF start because HUF easy to form and profits exempt in the hands of members of huf.
Kamaldeep Singh
(Querist)
18 December 2011
ok...Thanks everybdy 4 ur valuable replies....
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