Brokrege income in huf

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Sandeep

Sandeep (Querist)
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05 June 2013 Dear Sir, I want to know that HUF can show Brokrege or Commison income ?

CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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05 June 2013 Yes HUF can show Brokerage or Commission Income

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Ganeshbabu K

Ganeshbabu K (Expert)
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05 June 2013 No,.it is not possible

COMMISSION income requires personal efforts and by applying special skills ,

Therefore it will be wrong to have commission income in the hands of HUF .

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Prakash Kochar

Prakash Kochar (Expert)
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08 June 2013 Depends on nature of transaction where from commission is received. HUF carrying on business as stockist or having dealership on basis of deposit of fund may have commission income.
HUF can have commission income wherein fund is invested and person is employed for carrying activities to earn the commission income.