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loan-huf
can huf - karta give loan to his family members. what is the tax consequences
Replies (7)
Yes .....HUF can give loan to its members .
However , if the loan is given out of borrowed funds , ensure that interets is charged , not less than the interest on borrowed funds .Ohterwise , interest on borrowed funds may be disallowed partly/wholly depending on the facts of the case.
Yes Loan is possible but interest is to be chrged
Can a HUF 'take' loans from its coparceners, members or Karta!!??? May be the loan is with or without interest.
Can a HUF take loan from its coparceners???
A HUF comprising of Husband, wife, son and one married daughter. The husband is the Karta.
Can this HUF receive loans from wife (a coparcener) and pay interest on the loan amount??
Yes
Huf can give loan to its member without interest ? and whether it is taxable in the hand of member as a gift ?
Yes HUF can give loan to individuals
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