Queries on huf
Venkatesh G
(Querist) 06 September 2011
This query is : Resolved
How can I transfer funds from my individual account to my HUF account where I am the Kartha?
Is there a limit on the fund transfered in a financial year?
Should the funds be transferred with a gift deed to the HUF?
The purpose of transfer of funds from personal account (Tax paid on income already) to HUF account is to accumulate for son's education by way of FDs and other investments from the HUF account. The motive is to reduce the tax liability in the hands of the individual and use the eligibility in HUF.
A V Vishal
(Expert) 06 September 2011
State purpose of transfer?
Venkatesh G
(Querist) 07 September 2011
The purpose of transfer of funds from personal account (Tax paid on income already) to HUF account is to accumulate for son's education by way of FDs and other investments from the HUF account. The motive is to reduce the tax liability in the hands of the individual and use the eligibility in HUF.
A V Vishal
(Expert) 07 September 2011
You can transfer the amount
