HI,
FRIENDS I AM PUTTING MY QUESTION ONCE AGAIN PREVEOUSLY I HAVE RECEIVED SOME ANSWER BUT I AM NOT SATISFIED.
COULD U PLEASE TELL ME WHAT IS THE PROCEDURE TO DISTRIBUTE HUF CURRENT ASSET LIKE BANK BALANCE TO ITS MEMBER,
IS THIS WROUNG OR WIGHT AS PER INCOME TAX ACT.
THANKS WITH REGARD.
hi,
forum what happen ,
no one answering this question,
income tax act does not specify the procedure for distribution of assets belonging to HUF
THANK U MONIKA JEE,
COULD U PLEASE TELL ME IF HUF GIVES INTEREST FREE LOAN TO ITS MEMBER AND ITS MEMBER EARNED MONEY ON IT .
IS THIS A INCOME OF HUF OR ITS MEMBER
THANKS WITH REGARD./
CAclubindia
