Huf
This query is : Resolved
06 September 2014
In a partnership firm one of the partner is HUF, remuneration paid to HUF is allowable?
06 September 2014
In partnership firm HUF cannot become partner directly it can be represented by its Karta or any other member. In case karta or member receives remuneration from the partnership firm that will be his personal income and not of the HUF even though he is representing his HUF. this is because remuneration can be given only to natural person. Remuneration paid to him will be allowable to the firm provided within the limits laid down in section 40(b).
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