Eligibility of Income
virag (Account and Tax consultant) (115 Points)
11 January 2019I have one query regarding HUF.
Can HUF receive professional income up to 30-40 lakhs in one financial year and file ITR-3 return for the same?
Thanks
Virag Shah
virag
(Account and Tax consultant)
(115 Points)
Replied 11 January 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160322 Points)
Replied 11 January 2019
Basically the same. But some professional income jointly carried by family members like stitching, tuition etc can be assessed in HUF income.
virag
(Account and Tax consultant)
(115 Points)
Replied 11 January 2019
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