HUF
This query is : Resolved
21 July 2011
Hi
One of our clients has income from HUF, So should i file 2 returns one in HUF status and another in Individual satus or file only one return in individual status , because the client does not have regular income from HUF , only this yr some sale of land was there so client got share in that
ABDUL
One of our clients has income from HUF, So should i file 2 returns one in HUF status and another in Individual satus or file only one return in individual status , because the client does not have regular income from HUF , only this yr some sale of land was there so client got share in that
ABDUL
21 July 2011
It is better to file the HUF's return also at least for this year in addition to your client's return.
It will help him in showing the source of receipts properly.
Further , the amount from HUF can be treated as received on partial partition of HUF.
In such a case income generating from such amount can be added back to HUF's income.
It will help him in showing the source of receipts properly.
Further , the amount from HUF can be treated as received on partial partition of HUF.
In such a case income generating from such amount can be added back to HUF's income.
21 July 2011
You are advised to file the return of HUF also.
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