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.

[DEV KUMAR KOTHARI]

Full facts are required.

What about TDS on rent and interest ? It has to be in name of AOP.

If at present there is no TDS, it is likely in future.

Better course can be to show rental income in AOP, pay tax in AOP and distribute net income among members.

AI Summary

Tax treatment of AOP income requires TDS and return filing aligned with GST to prevent reconciliation mismatches. Ensure TDS is deducted and reported in the name of the AOP where applicable; to avoid GST-income tax reconciliation mismatches, recognise rental and interest in the AOP, pay tax at the AOP level, and thereafter distribute net income to members.