Please Help: Remmuneration to Karta of HUF
Posted Date : 15-May-2013 , 11:34:50 am | Posted By UTSAV MEHTA
Please inform me whether HUF who is partner in any partnership firm is eligible for remuneration?
If answer to above is positive, then such remuneration is taxable in the hands of - Karta of HUF or HUF?
Please tell us the source of information from where we can confirm the same.
If answer to above is positive, then such remuneration is taxable in the hands of - Karta of HUF or HUF?
Please tell us the source of information from where we can confirm the same.
Category : Income Tax | Answers : 2 | Comments : 2 | Hits : 103
Answers
Answer By: Rishabh Upadhyay
Remuneration can be paid only for the services rendered. HUF being a AJP can no render any services in personal capacity, hence no salary can be paid to HUF
Answer By: Vikash Kumar Jha
I am agree with Rishabhji
Comments
VINEET Roongta
15-May-2013 , 11:25:29 pmHuf can be a partner in a partnership firm. However no remuneration can be given to huf. But remuneration can e given to Karta in individual capacity for his services rendered.
Jalpa Ganatra
17-May-2013 , 01:06:51 pmKarta of HUF can join in partnership firm by bringing the capital of the HUF. and there are different case in different court for remuneration received by karta is to be taxed in whose hands?? Judgement depends on that the amount paid is for Karta's own capacity than it will be taxed in the hands of Karta and if return is for interest that on amount invested by the karta on behalf oh HUF than it will be taxed in the hands of HUF