LATEST DETAILS

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

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
Professional services available Audit Management
Tax Lok English Viedo
Tax Lok Hindi Viedo
Check Your Tax Knowledge
Youtube
HR Consulting services

FOR FREE CONDUCTED TOUR OF OUR ON-LINE LIBRARIES WITH OUR REPRESENTATIVE-- CLICK HERE

FOR ANY SUPPORT ON GST/INCOME TAX

Do You Want To Take FREE DEMO Of Our GST/Income Tax Library.