Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

taxability in hands of huf

Jaisika Kukreja (216 Points)

30 November 2018

huf funds (loan) invested in firm or co. then income generated from this would be taxable in members hands or huf ??

Reply
Follow
Share

4 Replies

Nitesh bind (Student CA Final ) (12692 Points)
Replied 30 November 2018

Jaisika your query itself is somewhat less clear.

If you are talking about Income arising from Application of Loan; Then HUF has nothing to do with that as its the Company which is earning from using the loan amount.

If you are talking about Interest amount on Loan Given by HUF-
Obviously that would be the income of HUF, No other aspect of that income.

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Jaisika Kukreja (216 Points)
Replied 30 November 2018

I mean loan taken from huf ..n there is also personal application of skill n talent in acquiring profits of new venture ..

now tell ..taxability would arise in hands of huf ????