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Simplification of ITR forms and issue of Pan cards


The Government has simplified Income Tax Returns ITR Forms for individuals and HUFs not having business or professional income In ITR Form No 2 and 2A the main form does not contain more than three pa

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Electronic Filing of Income Tax Returns for 2015-16 Commences


Electronic Filing of Income Tax Returns for 2015 16 Commences ITR 1 Sahaj 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business ITR 4S SUGAM can be Used by an I

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ITR 1,2 and 4S simplified for convenience of taxpayers


Income Tax Return Forms ITR 1 2 and 4S Simplified for Convenience of the Tax Payers A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains Income from Bu

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No Change in the Rate of Personal Income-Tax


Surcharge 12 Levied on Individuals HUFs AOPs BOIs Artificial Juridical Persons Firms Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore The Union Finance Minister Shri Arun

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Instructions for filing wealth tax returns


INSTRUCTIONS FOR FILLING UP RETURN OF NET WEALTH FORM BB To be detached before filing the return in a paper form This form is to be filled up by all wealth tax assessees individual Hindu Undivided Fam

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Experts Opinions

Loan from huf


Took a loan from HUF account and it transfer to company As Loan Company Provide 10 Interest Can i provide any Interest to HUF account

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Can i show my individual fd interest show in my huf accoun


can I show my individual FD interest show in My Huf account My son is minor booked FDs on My Son account My Son have separate minor pan card Can I show This FD interest in my sons account

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Regarding huf


if karta of HUF is expired can HUF running after his death on his name

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Huf


I want to know whether a Karta of HUF be karta of more than 2 HUF suppose A person was Karta of his HUF and became karta of another HUF after death of his father Now this karta died He has two sons Hi

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Benefits of huf account


Hi Please tell me the benefits of HUF account Why we create it

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Discussion

Can a huf have personal drawings ??

I want to know that is it possible that a HUF assesse can have personal drawing to his name or not if yes den what is logic nd law section behind this also is it possible for HUF to gift to others as

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Huf - and a legal firm

Can I run a HUF under a legal firm I mean to say can I file a return for income earned by me from legal services under HUF

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Tax exemption to huf

1 Can my Fathers HUF pay for the home loan principal amount and claim deduction under sec 80C The house loan is in name of my mother and myself 2 Can my HUF pay for the home loan principal amount and

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Transfer of shares from huf ac

Hello 1 HUF father has expired with shares in his Demat Huf ac How can we transfer these shares to any other demat ac 2 All members Co parceners are divided seprated they dont want shares of my father

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Gift from huf to huf

I recently had my HUF account created I am the karta of my HUF as well as a member of my fathers HUF Now I want to know whether an HUF can receive any amount in gift from parents HUFs HUF of father or

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  • Important changes under Central and State Tax Laws

    The following are the important changes under Central and State Tax Laws with effect from 1st April 2015 1 Conveyance Allowance Transport allowance granted to an employee is exempted up to Rs 800 per month The limit of exemption is now enhanced to Rs 1600 per month 2 Profession Tax Those whose salary for a month was more than Rs 10 000 were supposed to pay Profession Tax of Rs 150 per month Now from 1st April 2015 the persons drawing salary up to Rs 15 000 per month are exempted from Profession Tax Applicable for Bangalore 3 Profession Tax exemption for senior citizens who have attained age of 60 Years Applicable for Bangalore 4 Wealth Tax Is abolished from 1st April 2015 Keep all the wealth tax papers of past 8 years in safe custody even though wealth tax is abolished from FY 2015 16 5 Mediclaim Insurance The premium paid towards mediclaim insurance is enhanced from Rs 15 000 to Rs 25 000 per year for senior citizen it is enhanced from Rs 20 000 to Rs 30 000 per year u s 80D 6 Basic Exemption Limit for VAT registration in Karnataka Now the traders who expect to do annual taxable turnover sales of less than Rs 10 Lakhs needn t register under Karnataka VAT Laws However other aspects of registration which were applicable till March 2015 will continue to apply 7 Reverse Charge Method under service Tax Laws w r t Manpower Consultancy Currently in case manpower supply or security services is provided by individual HUF or partnership firm to a body or a corporate the service provider is liable to deposit Service Tax to the extent of 25 and service receiver liable to deposit Service Tax to extent of 75 W e f 1st April 2015 Service Tax is not required to be charged by specified service provider i e individuals HUF Partnership Firms and the same is to be paid by the service receiver entirely i e instead of 75 the service receiver has to pay 100 F No 334 5 2015 8 ESIC Payment Through Online Online payment of ESI contribution made easier Now facility for payment of ESI contribution through net banking is made available through State Bank of India and 58 major banks 9 PF Payment Made Online The EPFO payment has been made online Mandatory effective from 1st May 2015

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  • Affidavit for import shipment by FDDAI

    FDDAI DECLARATIONS FOR IMPORTER

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  • HUF Formation Deed

    HUF Formation Deed is attached herewith

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  • Affidavit Format

    Affidavit Format For extension of Time for Filing of ITR

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  • Tax Treatment of Gifts Received by an Individual or HUF

    TAX TREATMENT OF GIFTS RECEIVED BY AN INDIVIDUAL OR HUF

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Articles

Taxation of gifts by an Individual/HUF


As per section 56 2 vii of Income Tax Act gifts received by an individual or a hindu undivided family in the form of money or property without consideration or with inadequate consideration is taxable


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Karniti Part- 36: What is "HUF" (Hindu Undivided Family)?


Arjuna Fictional Character Krishna What is mean by HUF Hindu Undivided Family under Income Tax Act Krishna Fictional Character Arjuna Generally in India mother father son and daughter in law grandsons


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Gifts to and from HUF


In this article the author endeavours to prescient theamendmentby Finance Act 2012 in the definition of relative in Explanation e to clause vii of Section 56 The article also critically analyses the r


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All about HUF its creation and tax benefit


A HUF is a separate entity for taxation under the provisions of S 2 31 of theIncome Tax Act 1961 This is in addition to an individual as a separate taxable entity This indicates that a person may be a


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Affidavit of Director or Promoter as per MCA circular 11 of 2013


AFFIDAVIT Ref MCA Circular No 11 2013 dated May 29 2013 I Anonymous aged about 60 years son of Late Anonymous senior residing at House no 10 2013 Author apartments Club Road Bangalore 560001 solemnly


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Updated on : 8/5/2015 6:07:09 PM



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