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Can HUF use Loan amt in making FD
please suggest, HUF have taken loan from family member, can be used that Loan amount in Making FD, as no other source of Income to HUF.
Replies (1)
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Action: You can use a loan to fund an HUF's FD.
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Documentation: Ensure you have a clear loan agreement.
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Tax: Interest earned belongs to the HUF and must be taxed as HUF income.
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Caution: Keep personal and HUF finances strictly separate to avoid tax scrutiny under clubbing provisions.
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