Money transfer in huf

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can karta tranfer funds into HUF and can bye pass clubing provisions

Replies (2)

By showing it as a gift u can bye pass clubbing provision becoz as per amendment made in Finanace Act 2012 there will be no tax implications if a member of huf transfer any property without or for inadeqaute consideration. 

Yes clubbing provisions can be by passed only if money is shown as gifted to HUF since an HUF can receive sum of money even in excess of Rs. 50000/- from its members without any tax implications.


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