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Income Tax Return HUF

N.V. Siva Ram Prasad (Accounts & Audit Assistant)   (139 Points)

13 March 2021  

I am filing income tax return under HUF for the first time. under what head the income to be calculated sir. assessee has no rental income or salary or business income sir. would interest on sundry debtors be allowed sir?


 5 Replies

Sourav (Student) (23865 Points)
Replied 13 March 2021

File under income from other sources

N.V. Siva Ram Prasad (Accounts & Audit Assistant)   (139 Points)
Replied 13 March 2021

Ok sir thanq sir

Kapadia Pravin (17209 Points)
Replied 14 March 2021

HUF and interest on sundry debtors ...contradictory !! pls be specific.

N.V. Siva Ram Prasad (Accounts & Audit Assistant)   (139 Points)
Replied 14 March 2021

Interest from sundry debtors sir

anil jain (Partner) (964 Points)
Replied 14 March 2021

Sundry debtor suggest that there should be any business, if HUF given loan to others and charge interest it is chargeable under the head "Income from other Sources. After a certain limit specified intt payer must have deducted TDS also pl check/match with Form 26AS too.


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