Cash loan from HUF
This query is : Resolved
Shankar Rao
(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 ?
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.
As per 269SS & T
Loan given exceeds Rs. 20000 in case is liable for penalty.
So avoid such type of loan.
13 November 2009
HUF is an entity distinctly separate from Individual. Both Section 269SS & T apply.
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