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taxability in hands of huf
huf funds (loan) invested in firm or co. then income generated from this would be taxable in members hands or huf ??
Replies (4)
Jaisika your query itself is somewhat less clear.
If you are talking about Income arising from Application of Loan; Then HUF has nothing to do with that as its the Company which is earning from using the loan amount.
If you are talking about Interest amount on Loan Given by HUF-
Obviously that would be the income of HUF, No other aspect of that income.
If you are talking about Income arising from Application of Loan; Then HUF has nothing to do with that as its the Company which is earning from using the loan amount.
If you are talking about Interest amount on Loan Given by HUF-
Obviously that would be the income of HUF, No other aspect of that income.
I mean loan taken from huf ..n there is also personal application of skill n talent in acquiring profits of new venture ..
now tell ..taxability would arise in hands of huf ????
now tell ..taxability would arise in hands of huf ????
Very Useful Answers. I have also read your article on HUF. You have a good knowledge about the concept.
Thanks sir. Keep Visiting TAXEFFECTS.BLOGSPOT.COM for my latest work.
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