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General doubt

Direct Taxation

Is share of profits received from a HUF is taxable in the hands of its members?

Mala Ca

CA Final

★ 23K+

10-May-22 15:30

609

Answers (8)

Share of profits received by members of huf are exempt because profits already taxable in the hands of huf

Pantham Nagesh

CA Inter

★ 4K+

10-May-22 15:32

Pantham Nagesh

Share of profits received by members of huf are exempt because profits already taxable in the hands of huf

Thank you :)

Thread Starter

Mala Ca

CA Final

★ 23K+

10-May-22 15:33

No, it is only taxable in the hands of HUF

Be The Change

CA Inter

★ 11K+

10-May-22 15:33

Exempted

Priyanka R

CA Final

★ 20K+

10-May-22 15:47

Kumar G

CA Final

★ 12K+

10-May-22 15:52

Yes, it's exempted u/s 10

Mahantesh Biradar

CA Final

★ 92K+

10-May-22 16:33

Section 10(2) clearly mentions that any sum received by a member of HUF (out of the income of HUF) is fully exempted however that amount should already been taxed in the hands of HUF.

shalu Muthukumar

CA Final

★ 1K+

10-May-22 18:30

Okay thank you all!

Thread Starter

Mala Ca

CA Final

★ 23K+

10-May-22 18:34