Transfer of Funds from Karta to HUF

ITR 503 views 1 replies

Hi,

I have transferred some funds from Karta personal account to HUF account say 10 lakhs. I have taken this amount on loan with interest from Karta. Now, the funds that have been transferred from Karta will they appear in Proprietors Capital section of the Balance Sheet of HUF or as Unsecured Loan for the purpose of ITR filing? The interest paid in both cases will come under the section of Interest paid

 

Replies (1)

It will be unsecured loan in the BS of HUF.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register