How to introduce capital in Newly created HUF ?
Members can Trf. an amount to HUF account for initial Capital OR not ? OR
what r the other option ?
KIYOSH
3 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 03 May 2011
close relatives can gift very small amounts to form initial capital.
KIYOSH
(TAX CONSULTANT)
(332 Points)
Replied 04 May 2011
Thanks for reply but
small amount is less than 25,000/- ? &
member of HUF can trf an amount to HUF ?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 04 May 2011
as HUF is a family account, and individual a/cs are different from it, so its beter to keep the individual accounts not in touch with HUF to avoid future litigations.
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