HUF capital building
This query is : Resolved
19 July 2023
My husband can transfer say X amount from his personal income into our newly created HUF. Will that be treated as income of HUF and taxable? If we invest the amount in Shares / Fixed Deposits, Will the income/interest be taxed at HUF or my husbands tax slab?
19 July 2023
1. No. Not taxable.
2. Yes, due to clubbing provision the interest/income will be taxed in the hands of the Donor.
2. Yes, due to clubbing provision the interest/income will be taxed in the hands of the Donor.
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