HUF VS Partnership
This query is : Resolved
10 November 2008
I AM HAVING A FAMILY TRANSPORT BUSINESS, AND I AM WISHING TO GET REGISTERED.
which one is better, i mean wheather partnership or HUF has better implications from Income tax perspective.
regards,
which one is better, i mean wheather partnership or HUF has better implications from Income tax perspective.
regards,
10 November 2008
The choice is not that easy. While you can easily form a partnership, HUF can not be chosen, it has to happen by operation of law. It means unless you have a HUF nucleus already you can not 'create' HUF.
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