Huf faq's - please answer

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CA Raj Doshi (Querist)
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24 November 2014 1.What type of incomes Huf can earn except rent on inherited property and commission Income? 2.Can huf do business i.e trading of goods? 3.Can huf be registered as a dealer under mvat ? 4.The turnover limit for registration under mvat says " turnover of taxable goods is Rs.1000 or more - What does it mean ? "

Amol S Joglekar

Amol S Joglekar (Expert)
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24 November 2014 01. Except the one involving the expertise of individual/personal nature, HUF can earn any income.
02. HUF can do business
03. It can be registered under Mvat
04. If you are not having any taxable turnover, you can go for VOLUNTARY registration.

Rupesh Jain

Rupesh Jain (Expert)
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25 November 2014 HUF can do the business or any work to earn the income through karta.

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