Salary to karta whether deductible.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 March 2012
Can salary paid to the karta and his wife be claimed as deduction by the HUF for the business carried by the HUF
09 March 2012
Salary paid to Karta and his wife is allowable however 40A(2) will be attracted
Message likes :
1 times
31 March 2012
Can you make profit out of yourself or can you sale something to you? So the business of HUF is owned by the HUF as a proprietor and hence the Karta can claim the profit only. As regards the wife if she is qualified then yes she can claim the salary but the expert has correctly said the provision of the section referred by you shall come into play
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