Can HUF become Partner in a Partnership Firm
If Yes, Can Firm Pay Partners Remuneration to HUF.
IF Firm Pays Partners Remuneration to HUF in whoes hands the same shall be taxable i.e. whether it will be taxable in hands of HUF or in hands of Karta in his individual capacity.
Asked on 5/19/11, 9:54 pm
1 Answer from Attorneys
Shrichand Nahar
S.V.Nahar, Advocate
HUF can become partner in a partnership firm.
Issue of remuneration to HUF is complex and you should be guided by your tax consultant with what has been provided in deed of partnership.
Answered on 5/31/11, 10:38 pm
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