Huf
This query is : Resolved
06 September 2012
If Mr.X Individual give interest free loan (from personal funds) to X HUF of Rs. 10 Lacs. and then X HUF gives that money to third person and earns interest @ 12% on that loan.
Then whether this interest is clubbed with X Individual's income or taxable in the hands of HUF?
Please also give a Judgement if possible?
Thanks and Regards in advance.
Then whether this interest is clubbed with X Individual's income or taxable in the hands of HUF?
Please also give a Judgement if possible?
Thanks and Regards in advance.
07 September 2012
Interest will be taxable in the hands of HUf. because this a loan by ind. to huf not permanent transfer.
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