can kartha of HUF transfer money to HUF in the form of loan? if so whats the tax implication on this? will the income earned is treated under HUF or in the hands of kartha? also while repaying the loan with interest do we need to get the approval from the coparners?
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Can kartha of HUF transfer money to HUF in the form of loan
Replies (1)
1. Yes.
2. No effect, unless significant amount.
3. Yes, Clubbing rule applies.
4. Depends upon the HUF deed, but in general Challengeable.
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