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Loan by huf to a firm

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 September 2013 Pls let me know if a person carrying on a trading business under proprietor firm, can he take loan from his own huf and subsequently pay interest on the loan amount?

Karta of HUF and proprietor of firm is being same person.
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CA Vikas Acharya

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CA Vikas Acharya (Expert)
09 September 2013 Yes loan can be taken or given only by mode other than cash.

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