Huf
This query is : Resolved
23 April 2015
Whether Karta of HUF can give gift to his HUF so that no clubbing provisions are apply on either party?
23 April 2015
Yes. But at max INR 50,000 in an year
23 April 2015
Now Karta of HUF is considered as a relative of the HUF so there will be no Income from other sources if in excess of 50000. However, clubbing provision will be applicable in hand of Karta Individually.
I have not checked exact law on this but in a scrutiny of a known person the interest was clubbed with individual income of Karta.
I have not checked exact law on this but in a scrutiny of a known person the interest was clubbed with individual income of Karta.
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