Chittorgarh.com Logo
Loading...

Can a cheque issued in favor of a member of HUF be deposited into a HUF account?

Save over 60% on Brokerage

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today...

A cheque issued on Karta's name can be deposited into Karta's HUF Bank Account. It is considered the earning for HUF.

It should be avoided as it could add unwanted accounting and tax hassles. For example; what if the TDS is dedicated on the payment made to Karta through check.

Note that cheques from the members of the HUF can be deposited in the HUF account without any problem.


Comments

Add a public comment...