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?
TIA
You should sell shares and transfer money to HUF.
Rahul Dang & Associates-Chartered Accountants
Pune
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