Huf

This query is : Resolved

Ridhi Jindal (Querist)
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20 April 2013 Can a Chartered Accountant having personal income from professional services is allowed to act as Karta in HUF and show incomes in the name of HUF..??

Please help..!!!

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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20 April 2013 A CA can be Karta of his HUF, however, he can not show his professional income as the income of his HUF.
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His HUF may have income from other sources and even from a business established by deploying HUF funds. In such circumstances CA has to take permission of the ICAI. He can not engage himself actively in the business if he is having COP.
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