Karta of Huf loan obtained his huf without interest. Amount invested in shares or mutual fund . Profit at the time is sales huf income or individual income . Please clarify the position
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Quick Summary
This discussion clarifies the tax implications of investments made using funds from a HUF loan that has no interest. It addresses whether profits from shares and mutual funds, when sold, are considered HUF income or individual income. The key to understanding the tax position lies in determining whether the de-mat account used for these investments belongs to the individual or the HUF.