Huf
Querist : Anonymous
My friend created an HUF as per procedure. this HUF invests money in FD's and Stock trading. pl tell whether Income tax return to be filed even if no tax is applicable as the income is below rs 250000 for the whole year?
Its recomended to file the itr as it will help in creating capital.
As huf is created to generate capital.
Querist : Anonymous
Since the gift from members are not taxable in the hands of huf, then you need not file the itr if there is no other income of huf.
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