Huf

Divyesh Kalra (Querist) 16 February 2016 This query is : Resolved
HOW MUCH AMOUNT CAN BE GIVEN BY PERSON TO HUF IN FINANCIAL YEAR. IF A PERSON HAS FIXED DEPOSIT IN HIS NAME AND AFTER FORMING HUF CAN HE SHIFT ALL THE FIXED DEPOSIT TO HUF AT A TIME OR THERE IS A LIMIT FOR TRANSFERRING THE AMOUNT WITHOUT ANY COMPLICATIONS

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H.M.Patnaik (Expert) 17 February 2016
There is no upper cap for transfer of funds in a financial year from member's account to HUF account. In respect of transfer of Fixed Deposits from Individual member name to HUF name there is no complication at all.