I have situation where my wife needs to pay her loan repayment. I have got funds in my HUF account. Given my wife is a member of my HUF as a Karta can I gift any amount to my wife which she could use for her loan repayment. Is there any tax implications for the same?
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Can HUF gift any amount to its member. Is there any tax implications?
Replies (2)
If you gift the amounts... it will be taxable in her hands.... rather HUF can lend money to her... or if she is qualified for the activities of HUF , the business can give her salaries if she's working for it ...
Salary part helped, thanks.
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