difference between firm & huf
This query is : Resolved
07 August 2010
sir a co. named chawla transport co. is it huf or firm & sir another co. named shree balaji gases is it firm or co. plz sir tell me i m confeused about this question
regards
rajiv
regards
rajiv
07 August 2010
You can not know this from their name either you have to ask them our you can check it through their PAN.
If 4th alphabet of PAN is H then it is a HUF.
If 4th alphabet of PAN is F then it is firm.
If 4th alphabet of PAN is H then it is a HUF.
If 4th alphabet of PAN is F then it is firm.
07 August 2010
sir i dont.knew its mean sir plz explain me detail
07 August 2010
Rajeev ji please ask their Income Tax PAN.
If 4th letter is H than it means HUF.
If 4th letter is F then it means it is a Firm.
You can not tell it just from their name.
If 4th letter is H than it means HUF.
If 4th letter is F then it means it is a Firm.
You can not tell it just from their name.
09 August 2010
thankyou sir but sir clear me once again. which limit(15 lakh or 40 lakh)are announced by government.sir this limit any relation between huf & firm
09 August 2010
No such relation.
40lakh is limit for tax audit from ay 2011-12 this limit is enhanced to 60 lakhs
15 lakhs is limit of tax audit for profession from ay 2011-12 earlier it was 10lakhs.
40lakh is limit for tax audit from ay 2011-12 this limit is enhanced to 60 lakhs
15 lakhs is limit of tax audit for profession from ay 2011-12 earlier it was 10lakhs.
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