HUF query
Rajeev Tyagi (35 Points)
05 October 2018
can a person take loan from HUF, he is member of, for buying a shop
1 Replies
CA Rakesh Joshi
(Chartered Accountant )
(1272 Points)
Replied 05 October 2018
Since HUF is considered to be a seperate entity by itself under the Income Tax Law and also it is included in the definition of person u/s 2(31) of the Act.
In my view HUF can give advance to its members.
In my view HUF can give advance to its members.
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