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Cash loan from HUF

This query is : Resolved 
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(Querist)
13 November 2009 Dear all

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

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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.
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Sunil

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