ANY INDIVIDUAL FILE RETURN AS PER 44AD SUGAM .
AND INDIVIDUAL ALSO RECEIVED FUND OF RS 20000=00 FROM HUF , AS HE IS MEMBER OF HUF,
AS PER SUGAM ITR IF ANY INDIVIDUAL/HUF HAVE EXEMPT INCOME MORE THAN 5000 HE IS NOT LIABLE FOR SUGAM.
SO FUND RECEIVED FROM HUF IS EXEMPTED INCOME OR NOT AND HE CAN FILE ITR 4S( SUGAM ) OR NOT?
Dear Kishor,
Yes... you are required to file ITR-4 in that case... you can't file ITR-4S as your exempt income exceeds Rs. 5000.. but make sure that such income is covered u/s 10(2) of Income Tax Act, 1961.
Best Regards,
CA Lovely Arora
ca.lovelyarora @ gmail.com
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