jvratnam (Others) (109 Points)
06 May 2019Can HUF asses see claim exemption of tax up to Rs 50 ,000 interest on Bank fixed deposits and Savings account for Ay 2019-20
when KARTHA/ or a member of HUF is a senior citizen ?
Vineet Agrawal
(Chartered Accountant)
(39 Points)
Replied 06 May 2019
No, as allowed only to INDIVIDUAL Senior Citizen.
jvratnam
(Others)
(109 Points)
Replied 06 May 2019
Can HUF give gift to kartha of HUF,, which is permissible I think, and take fixed deposit in the name of kartha in his individual capacity to avail the benefit of sec 80 ttb ?Please advise
Ashwin Kumar
(1234 Points)
Replied 06 May 2019
Prakash Pant
(owner)
(312 Points)
Replied 06 May 2019
HUF cannot give gift to any member for investment in individual name, otherwise income will be clubbed.
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