Huf

This query is : Resolved

vijaykant (Querist)
Follow

06 January 2016 How to deposit capital to HUF account if there is no source, of any other income rental income Regarded to HUF Can karta and member's of HUF can pool a little amount of their Income to HUF

Ankur Singhal

Ankur Singhal (Expert)
Follow

06 January 2016 Strangers can make gifts but only up to Rs 50000 (Section 56).
Member/Karta of the HUF can also throw their money into the capital pool.
Transfer money by gifts etc to HUF capital keeping in view the clubbing provisions and tax on gifts under Income tax act,Remember there is no Tax on gifts in kind though they may attract clubbing provisions in some cases.