HUF ......
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 June 2011
Mr. A is running business in his HUF name since 3 years but he has not created any HUF deed. he has a PAN card in HUF name.
Now he want to file income tax returns for last 2 years.
Can he form a HUF deed from back date and file its income tax returns ?
Please reply
Now he want to file income tax returns for last 2 years.
Can he form a HUF deed from back date and file its income tax returns ?
Please reply
27 June 2011
there is no need of HUF deed
he can file returns from the date of formation mentioned in the PAN itself,
he can file returns from the date of formation mentioned in the PAN itself,
27 June 2011
How you will create a HUF Deed? HUF is created through partiton of bigger HUF and in come cases through the Gifts. Now, the main question is wherefrom the HUF got the capital for starting the business. If it is borrowed funds then there is no issue but it is out of gift then that must be supported through the Gift deed and who has given the gist. Kindly brief me the source about the capital with the HUF
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 July 2011
agrawal sir,
source of capital is ancestral property and gift.
source of capital is ancestral property and gift.
02 July 2011
Is is cash or kind? What is the liquidity? What it is written in Gift deed is more important and how HUF has received the Gift is also to be seen.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Should I report my US salary for January, February, March in Schedule FA?
- GST ON EXPORT COMMISSION
- Sale of property furniture sale
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
Trending Online Classes
CAclubindia
