HUF and Individual Taxation
This query is : Resolved
04 November 2020
One Of my client has Immovable Property in the name of HUF. now He has taken loan for that property as in personal capacity. rental income is received by HUF. so what is accounting treatment for loan repayment and interest expense who can claim interest expense and also what is tax treatment in this case
CA R SEETHARAMAN
(Expert)
04 November 2020
Loan taken in personal capacity, accounting and tax treatment should be in personal capacity.
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