Huf loan

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 August 2015 Sir,
I have taken a loan from my HUF Account. I am paying 18 % Interest to this loan account.I have give this loan amount to company as loan at 10 % Interest.When i file my personal account can i take any deduction from the Interest which i give to HUF?

Amol S Joglekar

Amol S Joglekar (Expert)
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07 August 2015 It seems you have taken loan in your individual capacity and not for any business/proprietary concern. No deduction as such is available for such an instance.

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