Hello,
I am a salaried person married in March 2020. I have opened an HUF file ( Me as a Karta and my Wife as a Member)
I am planning to shift all my excess money into the HUF and want to Open FD from HUF to avoid the Tax on the interest income into my hand.
Can you please let me know the tax implications here:
1. Can i transfer any sum of money to my HUF ?
2. Will this amount will be counted in other source income of HUF ?
3. Interest earned on the Amount will have any clubbing provision ?