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of <h1>Section 185(1) Clarification: HUF Karta as Firm Partner Exempt from Filing Form 12A, Not Considered Benamidar.</h1> The circular clarifies the application of section 185(1) of the Income-tax Act, 1961, concerning the filing of Form No. 12A when a Karta of a Hindu Undivided Family (HUF) is a partner in a firm. According to the Taxation Laws (Amendment) Act, 1975, a firm is not genuine if any partner is a benamidar, except in specified relationships. The Central Board of Direct Taxes concludes that a Karta representing an HUF is not considered a benamidar, thus exempting such cases from the requirement to file Form No. 12A.
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