Tax treatment

sidhigiri (Ipcc) (236 Points)

20 February 2018

HUF file return for period 2015-2016 and 2016-17 of Rs 250000 each .now what will tax treatment if HUF

1- Gave interest free loan to any member of rs 300000

2- gifted cash Rs 300000 to any member through cheque

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178293 Points)
Replied 21 February 2018

1. No tax liability

2. HUF cannot Gift, unless in case of family welfare, marriage of daughter etc.

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sidhigiri (Ipcc) (236 Points)
Replied 26 February 2018

BUT SIR AGGER SCRUTINY HUA TO AO INTT FREE LOAN PE KUCH OBJECTION NHI KAREGA ?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (178293 Points)
Replied 26 February 2018

HUF can give interest free loan to its member for the walfare or benefit of the family and/or any of its member.

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