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Useful articles for your finance management by our team of experts

past returns not submitted

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Question: I had been away from the country. I have not submitted my HUF returns for long. Can anybody help me advising me?

         

Answer: In case your HUF’s taxable income is below its tax exemption limit, filing tax returns becomes voluntary. In such a case, interest/penalty will not be levied for delay in filing your returns.

        
In case your HUF has taxable income and you have not filed your returns yet, you should file return along with interest as prescribed in sections (s) 234A, 234B and 234C, and submit a self-declaration proof/proper evidence for not filing your returns on time.

     

Warm regards,

Expert @ TaxYogi

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