Business of HUF
This query is : Resolved
CA Vijay V Kodmur
(Querist)
21 November 2008
HUF Business (MFG of Garments) can be started by raising the capital on their own basis by KARTA or by contribution by the members. Or taking the gift is mandatory for starting HUF business
HUF Business (MFG of Garments) can be started by raising the capital on their own basis by KARTA or by contribution by the members. Or taking the gift is mandatory for starting HUF business
CA Hemant T Dewani
(Expert)
21 November 2008
if you are aking loan then it is no problem if you are taking gift then if gift is more than 150000/-then it is taxable so first you will plan how fund is created & minimum tax liabilty
Dhirajlal Rambhia
(Expert)
07 November 2021
As per recent amendments, HUF can get gift from its members, which will be tax exempt.
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