Loan by huf to a firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 September 2013
Pls let me know if a person carrying on a trading business under proprietor firm, can he take loan from his own huf and subsequently pay interest on the loan amount?
Karta of HUF and proprietor of firm is being same person.
Karta of HUF and proprietor of firm is being same person.
09 September 2013
Yes loan can be taken or given only by mode other than cash.
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