Huf transfer

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11 Points Posted on 09 June 2020
can huf transfer any amount to its member without being taxed???
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On 09 June 2020 at 22:20 Report
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This discussion explores the tax implications of transferring funds from a Hindu Undivided Family (HUF) to its members. Generally, amounts received by members from a HUF are not taxable under Section 56(2)(vii). It's recommended to share the HUF's annual income with its members, as this distribution is exempt from tax in the members' hands under Section 10(2).

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133 Points Posted on 09 June 2020
According to me member can transfer any amount to its huf but not vice versa hence TRF by huf will be taxable
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On 09 June 2020 at 23:52
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11 Points Posted on 10 June 2020
Thanks
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On 10 June 2020 at 00:05
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AUDIT ASSISTANT
179 Points Posted on 10 June 2020
Yes , Amount recieved from HUF by its memebers are not taxable u/ s 56(2) (vii) .
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On 10 June 2020 at 10:54
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10 Points Posted on 16 June 2020
It is advisable to Share every years income with Members of HUF. Sharing of HUF income exempt in the hands of Members u/s. 10(2)
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On 16 June 2020 at 21:24

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