My huf is in need of loan of 14 lacs. I don't have cash on hand so planning to transfer shares worth 14 lacs as loan to Huf.
If huf sell these shares to raise funds for challenging order of Dy Registrar how income tax will construe it?
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Loan of shares to HuF
Replies (3)
Quick Summary
Loan is legal and there must be a resolution for the same.
You should sell shares and transfer money to HUF.
Any solution as I transferred the shares to HuF as loan and it sold to meet the urgency?
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