Tax liability of huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 October 2013
An individual who is a karta of His HUF gifts Rs. 200000 to His HUF from his personal Account. What is the tax liability in the Hands of HUF?
THIS AMOUNT INVESTED IN BANK ( AS FOR FD)...16000 RECEIVED INTEREST ON FD...
WHAT IS TAX LIABILITY....
THIS AMOUNT INVESTED IN BANK ( AS FOR FD)...16000 RECEIVED INTEREST ON FD...
WHAT IS TAX LIABILITY....
06 October 2013
The gift is not taxable. With respect to interest, the clubbing provision don't apply to sums transferred to HUF. So the HUF has to pay tax on the interest on its own.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Value of property in capital gain
- SFT Cash Deposit in Current Account
- Copyright software
- Multiple trade mark
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY....../
- Transporter Declaration form
- E-Invoice applicability for new Startup
- Filing of MSME 1 form by companies
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
