income tax

bishan singh negi (service) (104 Points)

24 April 2008  

hi forum,

i have a question if an huf gives interest free loan to its member and the member earned income on it . I would like to know whether income earned by member is taxable in the hands of HUF of its member,

No2 . if an huf gives gift to its member is this taxable or exempted.

thanks with regard