HUF

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Shrenik (Querist)

19 January 2011 Dear Experts,

I want to know that HUF can do any business & can we file Income tax return of HUF as showing Income from Business/Profession.

Is there any restriction on HUF for doing business.
Also pls. suggest merits & demerits of filing Income tax return of HUF.

Pls. suggest me urgently.

Aditya Maheshwari

Aditya Maheshwari (Expert)

19 January 2011 HUF https://www.simpletaxindia.org/2008/05/how-one-can-create-hufhindu-undivided.html
HUF https://www.caclubindia.com/share_files/all-you-want-to-know-about-huf-27905.asp
HUF https://www.caclubindia.com/forum/faq-on-huf--107806.asp

Shrenik

Shrenik (Querist)

19 January 2011 Dear Aditya,

Thks for sending me links, but that is common FAQ on HUF, but i cant find specific answer that can we create HUF & can we do any business & file income tax return of HUF by showing business income.
Pls. specifically resolve my this query.

Aditya Maheshwari

Aditya Maheshwari (Expert)

19 January 2011 Yes you can do. However the karta of the HUF should not be a CA in practice as other business by him is not allowed.

Shrenik

Shrenik (Querist)

19 January 2011 Thks for ur reply.

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