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HUF - Proffessionals

This query is : Resolved 
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(Querist)
05 July 2023 Is the income from proffessional service ( Tution classes etc. which comes under presumptive tax) of the KARTHA of HUF be received in HUF Bank account and shown in ITR of HUF PAN and pay tax accordingly?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 July 2023 No, any professional activities of Individual cannot be part of HUF.
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Viswanatha Raju

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Viswanatha Raju (Querist)
05 July 2023 Thanks Sir. One more query. Can the Kartha transfer his funds from his individual Savings Account to HUF account and create FD in HUF ?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 July 2023 Yes. But in case of gift, the interest earned over the FD will be clubbed in the hands of Karta.
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Viswanatha Raju

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Viswanatha Raju (Querist)
05 July 2023 Thank you very much.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
05 July 2023 Most welcome.

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