CA Loan Bajaj Finserv
CA Final Online Classes
CA Classes

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Dought Regarding HUF?


Ankit Madhogarhia (Pursuing Final)     29 June 2011

Ankit Madhogarhia
Pursuing Final 
 7 likes  531 points

| My Other Post

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

praveen

praveen (Chartered Accountant)     29 June 2011

praveen
Chartered Accountant 
 359 likes  6878 points

View Profile | My Other Post

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.

Ankit Madhogarhia

Ankit Madhogarhia (Pursuing Final)     29 June 2011

Ankit Madhogarhia
Pursuing Final 
 7 likes  531 points

View Profile | My Other Post

Hi,

 

Thanks for the prompt response.do let me know can a HUF file busines income

 

Regards,

Ankit Kumar

nitin

nitin (C.A. Final 2nd group)     29 June 2011

nitin
C.A. Final 2nd group 
 58 points

View Profile | My Other Post

@ ankit.....

yes HUF can file business income......

CA PARAS BAFNA

CA PARAS BAFNA (Practising CA )     29 June 2011

CA PARAS BAFNA
Practising CA  
 2616 likes  33383 points

View Profile | My Other Post

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.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert)     29 June 2011

CS,CA F,Numrologi TusharSampat
CS CA F Numerologist Astrologer Graphologist Face reader Vastu Expert 
 5079 likes  85895 points

View Profile | My Other Post
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.

Nice explaination sir !


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  





Trending Tags