HUF ......
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2011
Mr. A is running business in his HUF name since 3 years but he has not created any HUF deed. he has a PAN card in HUF name.
Now he want to file income tax returns for last 2 years.
Can he form a HUF deed from back date and file its income tax returns ?
Please reply
Now he want to file income tax returns for last 2 years.
Can he form a HUF deed from back date and file its income tax returns ?
Please reply
27 June 2011
there is no need of HUF deed
he can file returns from the date of formation mentioned in the PAN itself,
he can file returns from the date of formation mentioned in the PAN itself,
27 June 2011
How you will create a HUF Deed? HUF is created through partiton of bigger HUF and in come cases through the Gifts. Now, the main question is wherefrom the HUF got the capital for starting the business. If it is borrowed funds then there is no issue but it is out of gift then that must be supported through the Gift deed and who has given the gist. Kindly brief me the source about the capital with the HUF
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2011
agrawal sir,
source of capital is ancestral property and gift.
source of capital is ancestral property and gift.
02 July 2011
Is is cash or kind? What is the liquidity? What it is written in Gift deed is more important and how HUF has received the Gift is also to be seen.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Import Order Cancelled.
- HOW TO ADJUST CREDIT NOTE AMOUNT ?
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital gains in IT returns
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
