About Income

[mishal shah]

Actually i am facing a problem related to HUF. 

HUF - Is paying each and every year tax and his income is from 1 audited firm, but due to some circumstances in F.Y. 2010-11 the audited firm forgot to give a cheque and HUF does'nt have any income during the year and now the question is that he wants to pay the tax and so now how to show the income and what will be the entry.

[DR.MARIAPPAN GOVINDARAJAN]

I think that the above issue would have been settled at your end.

AI Summary

HUF income reporting: guidance sought for declaring a missed payment year and corrective tax entries. A taxpayer queried how an HUF should report and make tax payment where an audited payer failed to issue a cheque in a fiscal year leaving the HUF with no recorded income, seeking the correct tax reporting and accounting entry; the sole reply merely indicates the matter may have been settled without providing procedural guidance.