hindu undivided family sentence in Hindi
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- This form is available for both Individuals as well as Hindu Undivided Families.
- A Hindu undivided family or HUF is a legal term related to the Hindu Marriage Act.
- The ITR-3 Form particularly applies to those Individuals and Hindu Undivided Families who are registered as Proprietors of a firm.
- The ITR-3 Form is applicable only to those Individuals and Hindu Undivided Families that can be placed under the following categories
- In 2016, a judgment of the Delhi High Court ruled that the eldest female member of a Hindu Undivided Family can be its " karta " ( manager ).
- Individuals and Hindu Undivided Families who are not eligible to fill the ITR-3 Form are those who have earned Income through a Business or Profession operated as a Proprietorship firm.
- In 2016 a judgment of the Delhi high court was made public in which it was ruled that the eldest female member of a Hindu Undivided Family can be its " Karta ".
- The Wealth Tax Act, 1957 governs the taxation process associated with the Net Wealth of an Individual, a Hindu Undivided Family ( HUF ), or a Company possesses on the Valuation Date.
- And if it does believe that that is the concept of a uniform civil code, will it annul the HUF tax break that is the prerogative of the Hindu undivided family where women have no rights?
- On the other side of the globe, in a country like India, the society has assigned a common nomenclature for the head of a Hindu Undivided Family ( HUF ), a form of joint family.
- The Central Board of Direct Taxes ( CBDT ) has made it compulsory for Individual and Hindu Undivided Families earning an income in excess of Rupees Five Lakh to file their Tax Returns only through the E-Filing Process.
- An important factor to take note of before filing Income Tax Returns through the SUGAM ITR-4S Form is that "'this Form is not to be used by "'any Individual or Hindu Undivided Family that fulfills any of the following criteria
- The "'Wealth Tax Act, 1957 "'was an Act of the Parliament of India which provides for levying of wealth tax on an individual, Hindu Undivided Family ( HUF ) or company is in possession of, on the corresponding Valuation Date.
- If the partner of a firm only earns income from the firm as a share in the profits and not by any other means such as interest, bonus, salary, remuneration, or commission etc . then such an Individual or Hindu Undivided Family should file Income Tax Returns using only the ITR-3 Form, and not the ITR-2 Form.
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