Clubbing of income for huf
This query is : Resolved
P.R.Parikh
(Querist)
11 May 2018
.I want to gift 15 lakhs to my own HUF. Will this 15 lakhs will be treated as the income of my HUF ? When the HUF invests this fund in Bank FD, will the interest recd. from F.D. be added to my income for the purpose of taxation ?
12 May 2018
No tax liability on FD interest on you if 15 L is gifted to close relatives more than 18 yrs.Do not gift to wife. The tax liability on FD interest is on close relative receiving as gift.
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