Reg:hindu undivided family
This query is : Resolved
01 July 2013
Dear sir ,
please help me by suggestinf whether the entry given below is proper, if not please provide with correct entry.
Interest earned
accrued interest dr 100
to interest account 100
I can transfer this amount to HUF?
Interest a/c dr 100
to HUF account 100
please help me by suggestinf whether the entry given below is proper, if not please provide with correct entry.
Interest earned
accrued interest dr 100
to interest account 100
I can transfer this amount to HUF?
Interest a/c dr 100
to HUF account 100
01 July 2013
entry is proper
but you can not transfer accrued interest as your right over interest is not established. When you earned interest then gift it to HUF.
but you can not transfer accrued interest as your right over interest is not established. When you earned interest then gift it to HUF.
01 July 2013
Dear sir,
Can I transfer my income to my HUF account?
For eg if i receive any sitting fees, can i transfer this income to my HUF account?
Cash a/c dr 100
to sitting fees 100
Sitting fees dr to 100
HUF account 100
HUF account Dr 100
TO cash a/c 100
Can I transfer my income to my HUF account?
For eg if i receive any sitting fees, can i transfer this income to my HUF account?
Cash a/c dr 100
to sitting fees 100
Sitting fees dr to 100
HUF account 100
HUF account Dr 100
TO cash a/c 100
01 July 2013
you can transfer any amount to HUF but for income tax purpose the income is treated in the hand of Individual.
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