POSTED BY October 6, 2013 8:44 pm COMMENTS (2)ON
An individual who is a karta of His HUF gifts Rs. 200000 to His HUF from his personal Account. What is the tax liability in the Hands of HUF?
THIS AMOUNT INVESTED IN BANK ( AS FOR FD)…16000 RECEIVED INTEREST ON FD…
WHAT IS TAX LIABILITY….
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2 replies on this article “Tax liability of HUF if money is gifted ?”
Dear Ashal thanks for prompt response
Dear Sashi, in case of gifting from members of HUF (including Karta), the income ‘ll be clubbed in the name of donor. So for given situation, the FD interest ‘ll be clubbed with Karta’s name.