Raising capital for forming huf firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2015
Can I as an Individual entity transfer (permanently or Temporarily) my saving to form HUF, in which I will be a karta.
Also, can I use my wife Corpus for the same purpose, in which she will be as co-parcener?.
Also, can I use my wife Corpus for the same purpose, in which she will be as co-parcener?.
16 July 2015
If you transfer assets to the HUF, the income earned by the HUF from those assets will be clubbed in your hands as per Section 64(2) of the Income Tax Act.
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