Dear Sir,
I am employed with a company as a sales manager drawing regular salary income.
I am also eligible for a annual commission on my sales, which I wish to take in my HUF name. Could you please confirm if this would be acceptable by the income tax authorities.
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Commission in huf
Replies (4)
To offer as H.U.F Income. Income should be out of H.U.F's property or H.U.F's business. You can Impress your property as H.U.F's Property but not H.U.F's Income. Hence you {can not offer your commission as H.U.F's Income. Buf if you act as employee on behalf of H.U.F by Virtue of having share holding in Company and you (Kartha or Co-parcener) act as Executive officer there to look after operations} then you can offer such income as H.U.F's
I think yes, you can take commission in the name of your HUF as you can act on behalf of your huf to act as such.
Mine case is that I have taken commission on selling medicine in my huf account is that permissible. As my I am already in 30% slab .
No, As per my understanding because it is part of your employment agreement.
if HUF has separate contract then HUF can offer commission income.
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