Tally

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Ankit Madhogarhia (Pursuing Final)     29 June 2011

Dought Regarding HUF?

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



 5 Replies

praveen

praveen (Chartered Accountant)     29 June 2011

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

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

@ ankit.....

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

CA PARAS BAFNA

CA PARAS BAFNA (Practising CA )     29 June 2011

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

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  


Related Threads


Loading
Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags