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Huf

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(Querist)
06 August 2013 please tell can huf give gift to karta..
what are the income tax implications?
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
06 August 2013 No HUF cannot give gift to karts it tent amounts to partial partition which is now allowed. Previously when the provisions of section 171 were there it was permitted to do partial partition but now you have to do full partition.
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kunal

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kunal (Querist)
06 August 2013 sir Mr. A karta of Huf wants to purchase property in his name and there is capital available in Huf amounting to rs 50 lacs..

what are the available option..
1) can karta take loan from HUF?
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