Any impact of Sec 56(2)(vii)... it will not be treated as Gift Right? Any specific Limits to introduce capital... I heard that Karta Can't introduce funds that easily in HUF... Income Tax Act is also unclear about the same.
Sameer Ji, Income Tax Act is quite clear. Here Section 56(2)(vii) will not be an hindrance but section 64 will be there and income from such transferred amount will be clubbed in the hands of the transferer i.e. Karta. Hence there will not be any use of such transfer of funds if that is to save taxes.
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