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loan to karta

This query is : Resolved 
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(Querist)
01 November 2016 Can huf take a overdraft and give that amount as interest free loan to karta for business. What will be the treatment of interest paid on od by huf?
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Amol S Joglekar

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Amol S Joglekar (Expert)
01 November 2016 Yes. That can be done.
If HUF is having only interest income, then interest paid on OverDraft will have NO effect.
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