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Huf e-filing queries

Vipul (Business) (76 Points)

21 September 2011

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%)

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Rajagopalakrishnan R (PARTNER) (1422 Points)
Replied 23 September 2011

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.