LOAN to HUF by its members

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344 Points Posted on 22 January 2021
Hello All Experts, please suggest, A member of HUF can give Interest Free Loan to HUF.

or What will be the Tax Implications if any member make a monetary gift to HUF.

please suggest Gift Or Loan which one better
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On 22 January 2021 at 15:25 Report
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Quick Summary
This discussion explores the possibility of a member providing an interest-free loan to a Hindu Undivided Family (HUF) or making a monetary gift. Experts suggest that while both options are feasible, providing a loan is generally preferable. Gifting to a HUF can lead to income being clubbed with the donor's income for tax purposes, whereas a loan does not have this specific clubbing provision.

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17269 Points Posted on 22 January 2021
Can give loan. Gift is also possible.
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On 22 January 2021 at 20:12
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Accountant
4533 Points Posted on 23 January 2021
Yes you can give loan to HUF .there are no provisions for clubbing income of HUF
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On 23 January 2021 at 23:31
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Chartered Accountant
86505 Points Posted on 23 January 2021
If you gift to HUF then any income thereon will clubbed with your income.

So better to provide interest free loan to HUF
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On 23 January 2021 at 23:33

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