Huf non filling of return
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 March 2016
I HAVE HUF PAN BUT I M NOT FILLING RETURN NOW I RECEVIED NOTICE FOR IT DEPT FOR NO FILLING OF RETUN & BANK INTEREST WHAT SHOULLD TO DO??
BUT THIS HUF ACOUNT NO INCOME ONLY BANKL INTEREST RECD AROUND RS.40000/- PER YEAR NOTHING. NO OTHER INCOME
PLEASE GUIDE ME WHAT SHOULD DO ???
BUT THIS HUF ACOUNT NO INCOME ONLY BANKL INTEREST RECD AROUND RS.40000/- PER YEAR NOTHING. NO OTHER INCOME
PLEASE GUIDE ME WHAT SHOULD DO ???
Suresh Ramaswamy
(Expert)
25 March 2016
If the notice has come from the local AO, a reply stating the facts should suffice. However, it is not clear if the interest of 40,000 is on savings bank account or on SB and Time deposits. If it is from SB, apparently huge balances have been lying in the account and / or deposited and that is the cause for issuance of notice.
The IT Department is entitled to investigate the surce of funds of any person assessee or non assessee and in your HUFs case there is also a PAN card.
This advice may vary depending on the facts of the case.
The IT Department is entitled to investigate the surce of funds of any person assessee or non assessee and in your HUFs case there is also a PAN card.
This advice may vary depending on the facts of the case.
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