Huf income
This query is : Resolved
ashish khandelwal
(Querist)
18 June 2015
How will HUF earned money? Can karta Gift money to huf so that it can start business?
Ankur Singhal
(Expert)
18 June 2015
Answer to your second problem, Yes Karta can gift money to HUF.
Dear even any member of Huf can give gift to HUF but HUF cannot gift to any member even the karta.
Now your Ist query,
With the money received HUF can do any business as under income tax act HUF is a separate entity.
Dear even any member of Huf can give gift to HUF but HUF cannot gift to any member even the karta.
Now your Ist query,
With the money received HUF can do any business as under income tax act HUF is a separate entity.
Rupesh Jain
(Expert)
18 June 2015
HUF CAN EARN INCOME FROM BUSINESS AND HOUSE PROPERTY INCOME, FDR INCOME ETC.
MEMEBR CAN GIFT TO HUF.
MEMEBR CAN GIFT TO HUF.
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