The kartha of a HUF gifted Rs.1,00,000 to his wife . Will the interest accruing from the money be shown as Income in filing of returns by the kartha? Please clarify.
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Is interest on monetary gifts to the spouse in HUF taxable?
Replies (3)
Dear Rojamai,
I have read somewhere that an HUF cannot make Gifts to its members except on partition.
So think this can be done.......
Dear Amir,
what should be done in this case then?
Dear Rojamani,
U can always show Loan from HUF..........
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