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Huf income

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(Querist)
18 June 2015 How will HUF earned money? Can karta Gift money to huf so that it can start business?
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Ankur Singhal

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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.
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Rupesh Jain

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Rupesh Jain (Expert)
18 June 2015 HUF CAN EARN INCOME FROM BUSINESS AND HOUSE PROPERTY INCOME, FDR INCOME ETC.

MEMEBR CAN GIFT TO HUF.
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