Legal Question in Banking Law in India
huf can be mortgage in partnership firm. All members of Huf are partner in partnership firm
Asked on 11/27/13, 11:34 pm
3 Answers from Attorneys
Rajiv Chandhok Ph: +919810050896
https://www.linkedin.com/in/rajiv-chandok-0827b733/
yes the huf property can be mortgaged to your partnership firm, but you must consult your CA as you may have Income Tax issues regarding payment of interest. etc. You may drop in a detailed query at [email protected]
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JSR/281113
Answered on 11/28/13, 1:00 am
Huf and partnership both have different entities they are separate from each other so cannot be merged.
Answered on 11/28/13, 1:31 am
J. Radhakrishnan
independent Practice
Huf property can be mortgaged for the loans to the firm in which all members
Are partners.
Answered on 11/28/13, 4:25 am
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