Transfer of money to HUF account

This query is : Resolved

Prashant Chaudhari (Querist)
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23 March 2022 I am Karta of HUF (Me , My wife and Daughter). Recently we have sold our old flat and Invested into new flat.

Both Flats are owned jointly by My wife and me.
I paid my contribution to new flat using Capital gains from Old property And balance money using home loan.
If I can transfer Balance amount (apart from capital gains) received from sale of old property to HUF account ?
Will there be any Tax liability to me as Karta or Individual ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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24 March 2022 You can transfer your income to HUF a/c , but you cannot escape the tax liability on that income. Means you can only transfer the tax paid ( after tax) income. Yes, after transferring or gifting to HUF whatever income it genrerates will be considered as HUF's income and not yours.