UNSECURED LOANS....
This query is : Resolved
15 May 2010
"This is the second time, I'm making the same query,, I would be thankful to all the peoples who make a reply for me....
PLEASE......
An individual is having a PROPRIETORSHIP firm....
Can he take loan in his firm from his own HUF?
Proprietor of the firm and karta of HUF being the same?
To be specific,won't the "AO", disallow such loan entries
PLEASE......
An individual is having a PROPRIETORSHIP firm....
Can he take loan in his firm from his own HUF?
Proprietor of the firm and karta of HUF being the same?
To be specific,won't the "AO", disallow such loan entries
15 May 2010
yes loan can be granted, both are different concern, further provisions of 64 are not applicable in my opinion.
16 May 2010
Yes he can easily do tht....But take care that loan is in name of HUF....
16 May 2010
Yes he can take loan.
17 May 2010
They are diferent person in the eye of law, so u can take loan. No probs
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