Cash loan from HUF

This query is : Resolved

Shankar Rao (Querist)
Follow

13 November 2009 Dear all

Can I take loan from HUF by Cash ?
Can I Pay interest on Loan from HUF taken by cash ?

Guest

Guest (Expert)

13 November 2009
As per 269SS & T

Loan given exceeds Rs. 20000 in case is liable for penalty.

So avoid such type of loan.

Sunil (Expert)
Follow

13 November 2009 HUF is an entity distinctly separate from Individual. Both Section 269SS & T apply.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess