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Whether income earned by huf on cash gift received from co

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(Querist)
22 July 2016 whether income earned by huf on cash gift received from co- parcners is taxable to Income Tax Act in the hands of co parcners or huf ? ? ?

Facts : - Co - parcners made cash gift of Rs. 10 Lacs to his Huf. The Huf has invested said cash of Rs. 10 Lacs in Bank FD and earn interest of Rs. 12000/- on it.
Whether interest earn Rs. 12000/- is taxable under Income Tax Act in the hands of Co parcner or Huf
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CA. Sunil Gokhale

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CA. Sunil Gokhale (Expert)
24 July 2016 It is taxable in the hands of coparceners.
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