i had inherited shares from my father, sold most of them in 2014, with the proceeds paid part money for apartment, and took loan for remaining and continuing to pay loan, can i transfer the proceeds of shares received in 2014 as capital/deposit to my huf? Pls clarify.
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Can proceeds from shares inherited and sold in 2014 be now funded to create a HUF
Replies (3)
Yes, certainly.
Thanks a lot for the quick response.Sabyasachi
Will there be any issue from tax department that, shares proceeds was used to buy flat, and it is not sold yet, just given as advance, but that amount is now shown as inheritance proceeds to deposit/gift as HUF proceeds.
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