Hoe to file return of AOP

[GOPAL HARLALKA]

PAN card has been obtained in the name xyz & others. PAN no. is AAEAS0219C.It is an AOP where shares are determined.

AOP has rental and interest income. Amount received from rent and interest are distributed amongst members of the AOP. These income has been shown in the hands of the members and they have paid the tax on these income.

Registration under GST has been taken in the PAN of AOP. Bills are raised in the PAN of AOP .

Mu query is how to file income tax return of AOP. Since rental income and interest income has been shown in the hands of the members. There is no income in AOP.

Income tax department may raise a query that why return of AOP has not been filed. There will be mismatch in Income Tax return & GST return.

Kindly give your valuable opinion.

CA Gopal Harlalka.

AI Summary

Filing Income Tax for AOP: Ensure TDS in AOP's Name, Declare Rental Income to Align with GST Returns An individual inquired about filing an income tax return for an Association of Persons (AOP) with rental and interest income distributed among its members, who have already paid taxes on these incomes. The concern is about potential discrepancies between the AOP's income tax and GST returns, as no income is declared under the AOP. A respondent suggested ensuring that Tax Deducted at Source (TDS) is in the AOP's name and recommended showing rental income under the AOP, paying taxes accordingly, and then distributing the net income among members to avoid future issues.