Is it different in equity and intraday?
No, it would be the Karta only. The context of the question is to differentiate between investing via an HUF and trading via a HUF (be it intraday/f&o). Investing is passive and is trading is active which can be argued by the income tax authorities for clubbing it in the income of karta rather than counting it as huf income.
So the question is: Is trading in general (be it f&o/intraday) via HUF advisable – would clubbing of income be an issue there?
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@Deus12 It is very common to have a business under HUF in India. So yes, trading is allowed however, clubbing wont be applicable as a proper business ( trading in F&O ) is being done here.
Hey @Deus12,
Yes, the HUF can do F/O trading. The profits will be taxed in the hands of HUF as business income.
Hi @Quicko ,
Thank you for the revert. Does Quicko offer any 1-on-1 calls/advisory sessions where they can address the queries I might have? If so, could you please share the relevant link where I can avail them?
Also, where can I avail the tax filing service (ITR) for HUF with Quicko?
Thanks.
Hi @Deus12,
Yes, we do offer online tax advisory services. You can book a MEET with us using the below link.
Hope this helps!
@Quicko Team, If the HUF income is only through trading equity only (excl. F&O) & FD interest, how is it taxed? Standard 15% or can claim standard tax slab? Section 80C? etc?
Hey @abvc_aeerr,
The tax rates for both individuals and HUF are the same. Hence, in case of STCG, tax will be applicable at 15% and the FD interest will be taxed at normal slab rates.
Moreover, chapter VI-A deductions are not allowed in case of capital gains. You can claim them for other incomes like salary, business income or other source income like interest, dividend etc.
Can a member and non member provide interest free loan to huf ? if yes ,what all documents are we require to maintain?