N.V. Siva Ram Prasad (Accounts & Audit Assistant) (261 Points)
13 March 2021I 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?
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 13 March 2021
N.V. Siva Ram Prasad
(Accounts & Audit Assistant)
(261 Points)
Replied 13 March 2021
Kapadia Pravin
(17259 Points)
Replied 14 March 2021
N.V. Siva Ram Prasad
(Accounts & Audit Assistant)
(261 Points)
Replied 14 March 2021
anil jain
(Partner)
(1072 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.
CAclubindia
