Huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 December 2012
1)can my father give tax free loan to his son huf.
2) The loan taken by huf is invested in debentures where it is getting 18% return should HUF pay some nominal bank intersest of 8% to father to avoid clubbing provision.
3)Is there deed required to be done for loan on stamp paper or a declaration on plain papers will do.
2) The loan taken by huf is invested in debentures where it is getting 18% return should HUF pay some nominal bank intersest of 8% to father to avoid clubbing provision.
3)Is there deed required to be done for loan on stamp paper or a declaration on plain papers will do.
Pankaj Gupta
(Expert)
20 December 2012
Clubbing provisions apply on transfer of income. As giving loan is not a transfer hence clubbing provision do not apply.
secondely , you can take a loan @ 0% interest also. It is allowed.
Thirdly, You should use the stamp paper so as to avoid any future issues.
secondely , you can take a loan @ 0% interest also. It is allowed.
Thirdly, You should use the stamp paper so as to avoid any future issues.
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