huf expense deduction

This query is : Resolved 

25 January 2017 Which expense are allowed for deduction according to income tax act

25 January 2017 is the HUF carrying business or what?

25 January 2017 It's carrying investment business

25 January 2017 Then all those expenses which are directly related to the business can be claimed. e.g. printing stationery, office expenses, brokerage discount salary etc.

25 January 2017 Can they claim their family expense

25 January 2017 No. That is NOT possible.

25 January 2017 entertainment expense? ??????

25 January 2017 Generally NO. some reasonable expenses may be claimed. But mind well it should be reasonable and related to business.of HUF

25 January 2017 ok... can huf claim normal 80 c deductions as it is carrying investment business

25 January 2017 yes. HUF can avail deduction u/s 80C

25 January 2017 One more question a how to devolved a Ltd Co as it is carrying investment business

25 January 2017 Please get the help of Company Secretary.
CS will give you a detailed procedure.


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