Income tax applicability for HUF & Personal PAN

This discussion clarifies income tax applicability when funds are transferred from a personal savings account to a Hindu Undivided Family (HUF) account, specifically concerning Fixed Deposits (FDs). The consensus is that income generated from the FD, including interest, will be taxable under the individual's personal PAN due to Section 64 of the Income Tax Act, which clubs such income with the individual's personal income. Therefore, the HUF itself will not be liable for income tax on this interest; it's the individual who needs to declare and pay tax on it.