Can huf have professional income ??

Tax planning 1654 views 3 replies

CAN HUF OPEN PROPRIETORY CONCERN AND HAVE PROFESSIONAL INCOME ??? IF YES, THEN PLEASE PROVIDE ANY CASE LAW IN SUPPORT TOF THIS MATTER ?? 

Replies (3)

Yes ,

His proffessional income is taxable in his Individual capacity not in HUF status.......!!!!!!!!!!!!!

 

Mr. A is the karta of the ABC HUF.and HUF is runnning ABC & Co.  

Income from profession is credited to the current account of the HUF and seperate books of accounts is manintaned

then this income is of HUF or karta ??? 

Income taxable in individual capacity only....!!!

 

If it is credited to Current a/c of HUF..then it will be treated as capital introduced and credited to Capital a/c in HUF business.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details