HUF taxation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 May 2010
After a complete partition of my cient's HUF, the IT dept has allotted a MINOR HUF status to him (alongwith his wife) - his wife as member and self as KARTA.
What are the significant points on which this entity differs from the main HUF?
ALso, how are the funds to be divided between the husband and wife (in the capacity of member and Karta)?
What are the significant points on which this entity differs from the main HUF?
ALso, how are the funds to be divided between the husband and wife (in the capacity of member and Karta)?
24 May 2010
After partition, the income accrue to other member which is separated after partition are not taxable in the income of HUF.
Under the new Minor HUF status, the income of wife and other member if any is taxable under HUF
The income generated by HUF is divided equally between between the members
Under the new Minor HUF status, the income of wife and other member if any is taxable under HUF
The income generated by HUF is divided equally between between the members
Message likes :
1 times
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?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- 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
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
