How to introduce capital in huf
This query is : Resolved
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
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
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).
If any member of HUF or vice versa gives gift to huf then not taxable under sec 56(2).
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