HUF
This query is : Resolved
01 April 2009
there is a syaing by experts that for opening an account for HUF we shouldnt use own (any member of HUF) money rather it should be opened through borrowed money...WHY??
How we make such tax planning??
How we make such tax planning??
01 April 2009
Its only because, HUF money will be the asset of Whole member, rather then individual member.
If a member transfer his personal Asset to HUF, then it is just tansfering of one's white income to other which is of no use for IT purpose.
If we use borowed money, then HUF as a whole is liable for this.
If a member transfer his personal Asset to HUF, then it is just tansfering of one's white income to other which is of no use for IT purpose.
If we use borowed money, then HUF as a whole is liable for this.
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01 April 2009
i agree
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