POSTED BY February 3, 2011 11:29 am ONE COMMENTON
1) I am karta of our Family’s HUF. I had extra funds in my account which i parked in the HUF Account as Loan so as to get Interest in HUF Account. Please let me know under whose file will it be taxable.
2) My mother (getting remuneration as director in pvt. ltd.) is planning to buy a House. In case she makes part of the payment from her account and part of it from our HUF Account, in whose file will the Rent Income be taxable? Or will it be proportionately taxable? Also, what if we make the payment from the HUF account and get the House registry in her name? Also, who will get the benefits of 80C for Stamp duty in the various cases mentioned? (No Loans taken)