Can HUF do buisness
This query is : Resolved
Harminder Singh
(Querist)
11 February 2010
I want to know that, a person can do business (Trading Or Manufacturing) in the name of his HUF or not? If yes then is it be treated same as properiotership? If no then please tell me in summarized manner why?
KRISHNA KUMAR R C
(Expert)
12 February 2010
HUF can do business, it will be trated as propperitorership.
Harminder Singh
(Querist)
13 February 2010
Sir, please tell me that, is there any restriction on HUF, for certain type of incomes which A HUF can not earned? If yes please give me some examples of incomes, which can not be earned by a HUF?Because i have told by a person that a huf cannot earn commission income.....
CA PRIKSHIT GUPTA
(Expert)
13 February 2010
An HUF can earn any type of income except salary income. it can earn commission income also.
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