Huf salary and as a patrner in a firm
This query is : Resolved
16 January 2013
Can a HUF be a partner in a partnership firm,if yes then can he get salary as other partners get.If HUF can't then reason for it?
16 January 2013
Hello,
HUF can be a Partner in a Partnership Firm and can get salary as other partner gets...it will be taxed to HUF as business Income.
Regards,
Neha Chauhan
HUF can be a Partner in a Partnership Firm and can get salary as other partner gets...it will be taxed to HUF as business Income.
Regards,
Neha Chauhan
Message likes :
1 times
16 January 2013
As in case of commission HUF cannot show commission as his income,as he is not individually has made the efforts to earn it,it gets clubbed under individual income. As HUF is not an individual working in a firm so how he can get salary? pls explain
16 January 2013
Dear as the Karta of HUF can act on behalf of HUF in a Partnership Firm, a HUF can get salary for that...
16 January 2013
If karta works on behalf of HUF,then Salary income earned by the HUF will be clubbed under karta na as he has earned by working for HUF.
16 January 2013
No dear, it will be taxed to HUF as HUF is a Partner in Firm and not Karta...and you can say that you can make tax Planning by creating HUF.
16 January 2013
k if Karta acts on behalf of HUF then the salary is earned by the Karta & the salary will be clubbed under karta na,as karta works for HUF,HUF does not earn salary because he has not done any work so.....
16 January 2013
No dear , u dont get me...in simple words...HUF can become a partner in a partnership firm and can get salary as other partner gets and salary earned by HUF is taxed to HUF as business income...thats all...do not get in much
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
