i m the karta of a huf firm can i take a commission from huf firm as individual capacity
pls give advice
manish
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Huf give commission to individual
Replies (1)
Yes you can do that, but subject to the provisions of section 40(A)(2)(b).which says that if payments are made to relatives whihc are in excess of the value than it should be , then the same would be disallowed in the assessement of the assessee paying the amount.
In your case the HUF is paying the commission to individual. So the provision of the said section would attract.
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