Can huf opt new scheme for a.y. 20-21

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21 Points Posted on 05 April 2020
can huf opt new scheme for a.y. 2020 - 2021 i.e. without document ad hoc deduction or huf has to follow old rule deduction on the basis of documents.?
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On 05 April 2020 at 14:49 Report
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This discussion clarifies whether a Hindu Undivided Family (HUF) can opt for the new tax scheme for the assessment year 2020-21. The answer is no; the new scheme under section 115BAC is applicable only from AY 2021-22 (FY 2020-21) onwards for both individuals and HUFs. For AY 2020-21, HUFs must adhere to the old system of taxation and document-based deductions.

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"Do the Right Thing...!!!"
128157 Points Posted on 05 April 2020
Yes... HUF also use the new system...
The new system applicable only to Individual, HUF.
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On 05 April 2020 at 18:35
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719 Points Posted on 06 April 2020

HUF can opt for the new scheme u/s 115BAC from AY 2021-22 (FY 2020-21) and not for AY 2020-21. In AY 2020-21 old system of taxation needs to be followed.

https://www.taxcorner.co.in/

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On 06 April 2020 at 22:27

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