How to introduce capital in huf

This query is : Resolved

Mayur (Querist)
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06 September 2013 Hii
Just wanted to know how to introduce capital in newly formed HUF
And one more query if I gift 10 lacs rs as a individual to my HUF or my brother's HUF n then that money used as a loan n earned interest income then will that interest income clubbed in individual's income.

Thanks
Mayur Khandelwal

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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06 September 2013 u can give it if ur a member by converting the ownership from personal to that of HUF.

If any member of HUF or vice versa gives gift to huf then not taxable under sec 56(2).

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