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Huf

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(Querist)
06 September 2012 If Mr.X Individual give interest free loan (from personal funds) to X HUF of Rs. 10 Lacs. and then X HUF gives that money to third person and earns interest @ 12% on that loan.

Then whether this interest is clubbed with X Individual's income or taxable in the hands of HUF?

Please also give a Judgement if possible?

Thanks and Regards in advance.
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Praveen Kumar Rathi

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Praveen Kumar Rathi (Expert)
07 September 2012 Interest will be taxable in the hands of HUf. because this a loan by ind. to huf not permanent transfer.
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