Remuneration to huf karta and members
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 August 2013
can remuneration to HUF katra and members be paid from the business income of HUF (say if HUF is the prop. of a firm)
08 August 2013
Yes remuneration can be paid to the members. However, Section 40A(2) will be attracted and AO can disallow excess remuneration.
09 August 2013
REASONABLE REMUNERATION CAN BE PAID TO MEMBERS OF HUF. ASSESSING AUTHORITY MAY EXAMINE THE EXTENT OF WORK DONE FOR BUSINESS OF HUF. IF ITO OBSERVES THAT REMUNERATION PAID IS EXCESSIVE COMPARING SERVICES RENDERED HE MAY REDUCE THE AMOUNT OF REMUNERATION ALLOWABLE.
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