[aaykarbhavan] HUF Inquiry

Kindly Advice :



My dad gifted Rs 6 Lac to my newly created HUF. I invested 5 Lac in bank FDR, and 1 Lac in NSC for deduction under section 80c as gift from my dad to HUF is taxable income.

Now, we want to show that amount as loan and not gift and take gift from my in-laws and from that gift amount return the gift amount taken from my dad.

Now I want to know whether amount invested, 1 Lac in NSC for 80c deduction would be admissible or not as the funds were not income of HUF and it was invested from loan amount.




Thanks :)



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Posted by: Sonali Shahi <sonalishahi@yahoo.com>
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