Abhishek (Service Engineer) 02 July 2013
My father recently died in 04/2013 , He was KARTA - HUF
we have five files with Auditor , Fathers HUF FILE , SISTER , MOTHER , BROTHER & ME
from 2006 we did not have any income so did not file any IT return , few transactions are done on my mothers , fathers & my ac as we did Equity & shares Tradeing . i have salary ac
How can i close these files of brother & sister .
R RAJAGOPALAN (ADVOCATE) 03 July 2013
Income tax return need be filed only if the person has taxable income.
If not having taxable income, no action need be taken; keep quiet, the file will get closed automatically.
VISHNU PROMOD SRIVASTAVA (ADVOCATE) 03 July 2013
As per provisions of IT Act, the Individuals and HUFs having income above the exemption limit are required to file their return compulsarily. the individuals and HUFs having income below exemption limit may or may not file return. While partnership firms, AOPs and Companies required to file return compulsarily they , even if they are on loss.
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