Hi,
When can an Individual can start hie HUF file ,and what all the income which generally a aHUF shows in his file.
whether he can show Business income also like U/s 44AD any retail income or any other.
Regards,
Ankit Kumar
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Dought Regarding HUF?
Replies (5)
HUF is a family concern so stop saying he.
to start a HUF file a person must have a family and must have inherited some property or assets from ansestors.
Provisions are almost same for HUF and Individuals.
Hi,
Thanks for the prompt response.do let me know can a HUF file busines income
Regards,
Ankit Kumar
@ ankit.....
yes HUF can file business income......
Dear Ankit,
It was the Business only , due to which HUF has been recognised as a separate person in The Income Tax Act by the British. At that time all the members of family were carrying on the same business jointly.
Now HUF is being used as a tool of tax planning.
| Originally posted by : Paras Bafna | ||
 |
Dear Ankit, It was the Business only , due to which HUF has been recognised as a separate person in The Income Tax Act by the British. At that time all the members of family were carrying on the same business jointly. Now HUF is being used as a tool of tax planning. |
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Nice explaination sir !
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