Sir, I have HUF. I am KARTA. HUF is offering Consultancy Services in Engineering to Clients. The fees received are accounted for in the HUF bank account. The income earned is income of HUF. Taxes as applicable are paid. My query is will the income so earned Added to my income as I am KARTA ? As I am filing my income tax return in Individual Capacity showing income from Business and Profession? Kindly advice.
Reply: Income earned from business carried out under HUF status can not be shown as income of Karta.
Posted Date: Jan 05, 2021