bishan singh negi (service) (104 Points)
30 April 2008HI,
FRIENDS I AM PUTTING MY QUESTION ONCE AGAIN PREVEOUSLY I HAVE RECEIVED SOME ANSWER BUT I AM NOT SATISFIED.
COULD U PLEASE TELL ME WHAT IS THE PROCEDURE TO DISTRIBUTE HUF CURRENT ASSET LIKE BANK BALANCE TO ITS MEMBER,
IS THIS WROUNG OR WIGHT AS PER INCOME TAX ACT.
THANKS WITH REGARD.
bishan singh negi
(service)
(104 Points)
Replied 02 May 2008
hi,
forum what happen ,
no one answering this question,
Monika Mulvanshi
(service)
(81 Points)
Replied 02 May 2008
income tax act does not specify the procedure for distribution of assets belonging to HUF
bishan singh negi
(service)
(104 Points)
Replied 03 May 2008
THANK U MONIKA JEE,
COULD U PLEASE TELL ME IF HUF GIVES INTEREST FREE LOAN TO ITS MEMBER AND ITS MEMBER EARNED MONEY ON IT .
IS THIS A INCOME OF HUF OR ITS MEMBER
THANKS WITH REGARD./
CAclubindia
