Hello,
I am filing a HUF's return
I have the following queries.
The HUF is a member in a partnership firm but the HUF itself does not have a Propietor business.
So how exactly is the B/S and PL sheet in the ITR supposed to be filled up? Also should the PL include the interest recd from the Partnership (interest - 12%)
If the HUF Does not have its own proprietory business, the question of filling in BS & PL does not arise at all. Actually u should not use ITR 4 at all U should use ITR 3 for this HUF. In ITR 3 there is no provision for PL/BS. The share income from firm can be filled in the proper colums provided in ITR 3.
CAclubindia
