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More Information On HUF

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This query is : Resolved

Rajesh (Querist)
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25 January 2008 Please throw some light on below cases
a) Can Income from my software consultancy (professional fees) can be shown in HUF account.

b) Can Software Selling income be shown in HUF account

c) Can income from rent and also income from selling products both can be shown in HUF account

Regards
Rajesh Nagda
rajesh.nagda@gmail.com

CMA Gul S

CMA Gul S (Expert)
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25 January 2008 Hi,

i do not think you can show Software related expenses in HUF income. Yes you can show rent income in HUF Income

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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26 January 2008 The basic concept is this that whatever is earned from the funds of the HUF is the income of the HUF ........the nexus between income and funds of the HUF is to be established . Now if your software business has been started with HUF funds .........and you can prove it .....the income from funds of the HUF is income of the HUF

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