POSTED BY July 20, 2013 12:11 am ONE COMMENT
ONhi there
I am married
if i starts my own HUF
how will I inject funds
can my parents add gift capital to it ( what is the limit 5 lakhs or 10 lakhs or how much ? )
what will be tax legalities ( gift tax )
can me and my wife inject capital in it ( what is the limit )
what will be tax legalities ( gift tax)
from this asset can my HUF do business
and pay tax if it earns
can two brothers can start their joint HUF
thanks
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Check this one out. It was discussed in great depth. I am currently getting one HUF case done for my client as well. The important point to note is that if you or your spouse tends to divert your income / capital into HUF, it would get clubbed under your / wife’s income.