Interest on loan given by huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 August 2014
Member who is karta of his father's HUF has lent money to HUF@ 1% interest rate. The same funds has advanced to a firm where Member is not having any substantial interest @ 10% interest rate. Whether The interest earned by HUF is taxable in the hands of HUF or will it be clubbed with income of Member.
Thanks in advance.
Thanks in advance.
08 August 2014
Since the Karta has advanced loan to HUF clubbing provisions shall not apply.
08 August 2014
Since the Karta has advanced loan to HUF clubbing provisions shall not apply.
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