Can huf be shareholder in a company

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WebJan 9, 2013 · 09 January 2013 Dear All as HUF can be shareholder in a company through its Karta. 1) Now we have to incorporate a new company, can a HUF be subscriber to … WebThe source of membership in the company is birth in a family and 3 consecutive generations can be members of the company. The business is managed by the head of the family (eldest member) and he is called Karta. However, all the members hold equal ownership over the property of an ancestor and they are called as co-parceners. ...

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WebJan 4, 2024 · Gopal Kumar Sanei, Karta of HUF, but the Company had recorded the name of the assessee/HUF as shareholders of the Company. It was also recorded that the … WebJun 23, 2024 · Viewed from the aforesaid angle, one must reach the conclusion that as on the date, the affairs of the company are fully wound up and the entitlement of the shareholder to any return of its capital comes to an end, any disbursement made to a shareholder either by way of cash or asset has to be treated in the hands of the … pool cleaning service leesburg fl

Can Huf Be a Shareholder in a Company – Arcreane

WebFeb 26, 2024 · Shareholder: A shareholder is any person, company or other institution that owns at least one share of a company’s stock. Because shareholders are a … WebThe question which arises is whether a HUF can become a shareholder in a company or whether it can become subscriber to the Memorandum of Association of a company for … WebMay 17, 2024 · Advantages of starting a business as a HUF. One of the primary advantages of applying for HUF is that the members can create two PAN cards and file … shar aquos r5 what mobile

Transferred shares of HUF - Compliance Calendar LLP

Advances received by HUF from deemed dividend under …

WebOct 3, 2024 · Loans from one company to another company are covered under Section 186 of the Companies Act, 2013. However, a loan from one private company to another with Common Directors are covered under Section 185 (Loan to Directors). A company can give a loan, guarantee or security to any person or to a body corporate in excess of 60% … WebFeb 14, 2024 · Following the ruling in Sudhir Menon HUF, allotment of shares to the taxpayer (an existing shareholder of a company) at less than FMV should not be taxable under section 56(2)(vii)(c) where the allotment is not disproportionately higher than proportion of shareholding offered to the taxpayer. In India there is no gift tax. However, … pool cleaning service houstonA minor is not qualified to enter into an agreement and thus a minor’s contract is considered invalid. A minor has no legal ability to enter into a bond or authorize someone else on his behalf. However, under the Hindu Law, the accepted guardian is permitted to enter into a bond on behalf of the minor and such a … See more A HUF is considered as an individual person but not a juristic person for all purposes. Shares of a company can be registered in the … See more It has been held that a firm is not a person or legal entity distinct from the partners composing it, but merely a collective name of the individuals who are members of the partnership. Hence, a partnership firm is neither a legal entity … See more A company can become a shareholder in another company subject to the approval of the Board of Directors and passing of a resolution. A … See more A trust which has not been incorporated cannot be treated as a person, hence shares attained by a trust cannot be registered in its name. However, it could be registered in the … See more pool cleaning service lake havasu city az

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Can huf be shareholder in a company

HUF - Deduction from HUF Business Income

WebSep 3, 2024 · Transferred shares of HUF. One of my clients is holding shares in a private company as an individual and in capacity of HUF (Members of HUF are Karta and his wife and two minor children.). Now he wants to transfer his shares through a gift to his father, who is also a shareholder of the said private company. 1) if he will be transferred … WebAug 7, 2024 · The subscribers of the company are the first shareholders, who subscribe shares at the time of incorporation of the company. A Shareholder is any person …

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WebOct 31, 2024 · A Central or Stare government can become a shareholder in a company. An LLP can become a shareholder in a company. By agreeing to the MOA and purchasing shares of the company. Knowing how to become a shareholder in a company helps people and companies in investing and becoming shareholders. - Advertisement -. WebJan 5, 2024 · The two-judge bench of the Apex Court had categorically held that provisions of deemed dividend are attracted if HUF gets payment and shareholder is a shareholder in a company with substantial interest. In …

WebApr 3, 2024 · A shareholder can be a person, company, or organization that holds stock(s) in a given company. A shareholder must own a minimum of one share in a company’s … WebOct 13, 2024 · Let us take an example to understand this situation, a HUF can become the member/shareholder of the company through its Karta only i.e. in the register the name …

WebThe two basic types of shareholders are: 1. Common shareholders. This type of shareholder owns part of a company through common stock and has voting rights and … WebJul 27, 2024 · Replied 27 July 2024. Since HUF is one person as per Income Tax Act, a Proprietor of a business can be an Individual or a HUF. A Proprietorship concern is Not Governed by any Specific Law as such, and therefore there is No Bar on HUF becoming a Proprietor of any concern. Sagar Patel (Tax and Business Consultant) (11586 Points)

WebThat was a case where the assessee was HUF which had obtained certain loans of a company whose shares it beneficially owned. However, these shares stood in the name of S.M. Sharia (Karta) of the said HUF in the register of shareholders of the company. The loans were advanced by the company to three concerns which were owned by the …

WebIf these rules are followed, the company can take loan from members etc. Loans which can not be accepted eg. Private Company cannot accept loans from any Partnership Firm, HUF etc. Below, the provisions of Act have been stated in a more structured manner. Please be guided that the complex provisions of law have been simplified for easy ... shara pronounce pool cleaning service pahrump nvWebMay 17, 2024 · Advantages of starting a business as a HUF. One of the primary advantages of applying for HUF is that the members can create two PAN cards and file the taxes independent of the entity. Meaning, every … sharara and gharara differenceWebJul 24, 2024 · It can become a shareholder of a company by agreeing to the MOA of the company or by the subsequent purchase of shares in … pool cleaning service ocala flWebOct 31, 2024 · A Central or Stare government can become a shareholder in a company. An LLP can become a shareholder in a company. By agreeing to the MOA and … sharara clothingWebThus, it can be concluded that the salary/remuneration drawn by the Karta/members of HUF are deductible as a business expenditure provided the payment is genuine and … sharara and gharara dressesWebJul 10, 2014 · As per Section 3 (42) of General Clauses Act, 1897, "Person" shall include any company or association or body of individuals, whether incorporated or not. Hence, a Pvt ltd Company can accept a loan from HUF. Rule 2 (c) (viii) The Companies (Acceptance of Deposits) Rules, 2014 – “deposit” includes any receipt of money by way of deposit or ... sharara cheap suit for eid