Gift to huf
This query is : Resolved
25 February 2015
I am the karta/member of my HUF, I have gifted Rs. 100000 to my HUF on 05/10/2014 which is exempted u/s 56(2)(vii) of the Act. Now, please let me know whether the interest income derived to my HUF of Rs. 6000 will be taxable in the hands of my HUF or will be clubbed to my individual income under section 64(2) of the act.
25 February 2015
yes. It will be clubbed u/s 64(2), in the individual income
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