Brokrege income in huf
This query is : Resolved
05 June 2013
Dear Sir, I want to know that HUF can show Brokrege or Commison income ?
CA.Vinita Gupta
(Expert)
05 June 2013
Yes HUF can show Brokerage or Commission Income
Message likes :
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Ganeshbabu K
(Expert)
05 June 2013
No,.it is not possible
COMMISSION income requires personal efforts and by applying special skills ,
Therefore it will be wrong to have commission income in the hands of HUF .
COMMISSION income requires personal efforts and by applying special skills ,
Therefore it will be wrong to have commission income in the hands of HUF .
Prakash Kochar
(Expert)
08 June 2013
Depends on nature of transaction where from commission is received. HUF carrying on business as stockist or having dealership on basis of deposit of fund may have commission income.
HUF can have commission income wherein fund is invested and person is employed for carrying activities to earn the commission income.
HUF can have commission income wherein fund is invested and person is employed for carrying activities to earn the commission income.
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