28 August 2023
Hi, I have created an HUF account with my wife and kid. Now I want to know how can I generate income. From what I have read, gifts from relatives upto 50k is only allowed. But this is very small amount per year. If the karta or any member add money to HUF account, then the gains will be taxed to the karta as per clubbing provisions. Then how do I build wealth in HUF account?
CAclubindia
