...I have a HUF account in which rent income gets credited.I pay tax on that after usual exemp…
...I have a HUF account in which rent income gets credited.I pay tax on that after usual exemptions. My query is that can I transfer the amount so accumulated to the Karta's account/other coparceners?Will this be construed as income as there is no provision for a HUF to "gift" to the coparceners.If it is allowed what precautions should one take?
