- On the basis of limited information, remit the amount from Individual SB account. The remittance from Individual account will be under LRS.
For detailed discussion, you may opt for phone consultation.
HUF account - sending money
I am having HUF bank account with myself as karta,my wife and son as members.I am having some Fixed Deposits in the name of my HUF.Now,I want to cancel these fixed deposits and send funds to my son who is residing abroad in USA and an NRI.Can I send funds to my son directly from my HUF acoount or should I transfer funds to SB account in my individual name and send from that account?Which is the correct method to transfer funds to my son without any objection from income tax department?What is the exact method to transfer funds from HUF account?
Asked 3 years ago in Income Tax
How to send money from HUF account to persons other than members of HUF as gift?
Asked 3 years ago
This fund will be the money of all members in HUF.
So it's better to take it in equal share in each members accounts and then transfer.
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Thank you.
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