Karta of huf
This query is : Resolved
02 June 2013
I want to know taxability of karta of a HUF.Suppose Business income of HUF rs.700000, and the HUF give to karta Rs. 300000 as salary from income for running the business.
now what about the taxibility of karta and HUF?Is there any limit about giving salary to karta by HUF?
now what about the taxibility of karta and HUF?Is there any limit about giving salary to karta by HUF?
CA.Vinita Gupta
(Expert)
03 June 2013
If the HUF is running a Business then the Salary Payment can be claimed as a business expenditure but the Salary would be taxable in the hands of the individual.
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