Huf corpus
This query is : Resolved
07 March 2012
Hi friends,
I had just open huf saving account i want to know how can i build corpus for huf i had following points in mind pls advice for the same
1) CAN KARTA CAN GIVE LOAN TO HUF FOR SHORT TERM
2) I HAD MY WIFE AS COPARCENER CAN SHE GIVE LOANOR GIFT TO ME
3) ANY OTHER WAY FOR THE SAME
IS THERE IS ANY LIMIT FOR THE SAME
REG
RAHUL
I had just open huf saving account i want to know how can i build corpus for huf i had following points in mind pls advice for the same
1) CAN KARTA CAN GIVE LOAN TO HUF FOR SHORT TERM
2) I HAD MY WIFE AS COPARCENER CAN SHE GIVE LOANOR GIFT TO ME
3) ANY OTHER WAY FOR THE SAME
IS THERE IS ANY LIMIT FOR THE SAME
REG
RAHUL
07 March 2012
Keeping in view section 56(2) (vii) provisions, gifts can be taken from non relatives, up to Rs. 50000/- in a Financial Year. HUF can take loan from any person.
.
Members can give loan to HUF. However, if a member wants to gift certain amount to HUF, provisions of Section 64(2) for clubbing of income may be kept in mind and such gifts are to be avoided.
.
.
Members can give loan to HUF. However, if a member wants to gift certain amount to HUF, provisions of Section 64(2) for clubbing of income may be kept in mind and such gifts are to be avoided.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- SGST balance is there in credit ledger how to adjust for cgst
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
