If HUF launches the project of construction and sale of property, what are the implication with reference to Income Tax, Tax deduction at source, Service Tax, TAN, and other direct tax or indirect tax law related compliances.
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HUF Taxation
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Dear Mr. Girish,
For Income Tax Law, HUF will be considered at par for all the provisions of TDS/TAN/PAN and Income Tax (excluding certain provisions).
I am not very much sure about its legal status for other Indirect laws and treatment therefore.
Thanks
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A HUF itself is a another identity as a normal human being or company, it must be having own PAN/TAN/STax Nos. etc.
Originally posted by :GirishSPrajapati |
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| " | If HUF launches the project of construction and sale of property, what are the implication with reference to Income Tax, Tax deduction at source, Service Tax, TAN, and other direct tax or indirect tax law related compliances. | " |
yes HUF being a separate entity in income Tax is different from that of its members. Hence PAN, TAN, VAT NO. SERVICE TAX NO. has to be taken.
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