Income of HUF
This query is : Resolved
26 February 2011
Can profit earned by a HUF be distributed among the members of HUF in regular course? Is there any option like withdrawal or drawings(available in partnership firm) available in HUF?
CA PARAS BAFNA
(Expert)
05 March 2011
According to Section 10(2), where any amount
is paid out of the income of the family i.e.HUF, the said income is not taxable in the hands of members.
Further income can not be said property of HUF so question of partial partition does not arise.
Hence distribution of income can be made.
is paid out of the income of the family i.e.HUF, the said income is not taxable in the hands of members.
Further income can not be said property of HUF so question of partial partition does not arise.
Hence distribution of income can be made.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Missed uploading GST Invoice
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Additional trade name
- Number of years as per AS amortisation of Goodwill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
