Huf

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DINESH KUMAR (Querist)
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19 December 2011 I HAVE CREATED A HUF WHERE I AM KARTA.I & MY WIFE ARE ALSO AN ASSESSEE & HAVE A PAN NO.& FILLING THE RETURN SEPRETLY.HUF MEMBERS ARE I,MY WIFE & MY TWO SONS.WHOSE AGE IS 16-12.
NOW I WANT TO PURCHASE A PROPERTY OF RS.202 LACS IN THE NAME OF HUF.(THROUGH HUF).HOW WE CAN PURCASE?I HAVE 25 LACS SURPLUS IN MY BOOK.CAN I GIVE LOAN TO THE HUF WHERE I AM KARTA OR HOW I CAN MANAGE THE FUND IN HUF.WHAT ARE THE SOURCES TO MAKE FUND IN HUF.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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19 December 2011 you can give loan to the HUF but generally Banks are not preferring to give loan to an HUF.
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Still 177 lacs required ?.

How will you manage? The way out is to arrange loans from Private Parties.