Gift to huf by father
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 August 2011
1. if father or father`s huf gives gift to son`s huf and later invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
2. if father or father`s huf give gift for formation of son`s huf and later invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
2. if father or father`s huf give gift for formation of son`s huf and later invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
CA PARAS BAFNA
(Expert)
03 August 2011
1. if father or father`s huf gives gift to son`s huf and later invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
Reply- No.
-clubbing provisions are attracted when gift is made to minor children.
Reply- No.
-clubbing provisions are attracted when gift is made to minor children.
CA PARAS BAFNA
(Expert)
03 August 2011
2. if father or father`s huf give gift for formation of son`s huf and later son`s huf
invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
Reply -No
invest it in fd then whether interest earned wil be clubbed in fathers or father`s huf income??
Reply -No
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