PARTITION OF HUF
3 years ago
Dear Sir / Madam,
This is to inform that we have recently partitioned our Family HUF by mutual agreement by all members.
There was only Bank account held by HUF, the amount of which we have distributed among the family members and the Bank account is closed. Now our query is -
1. There is a TDS refund due for the F.Y: 2020-21. Now since the bank account is closed , can we get
the refund in the name of Karta.
2. We want to surrender the PAN of the HUF. So shall we have to wait till the online assessment order
is received by CPC Bangalore or will have to file manual IT return with the concerned ITO relating
to our jurisdiction.
3. Surrender process of PAN.
We request you to kindly help in solving our above queries.
Looking forward to hear from you soon.
Best Regards
Uttam
1. Yes, but will need to provide proof of the same.
2. Either option is viable, but the deduction cannot be claimed before the income has been assessed.
3. We will be able to guide you through this.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
1. Yes, you may.
2. You can do either, based on what is most convenient to you. The income will have to be assessed before any deductions can be granted.
3. We will be happy to assist you with this.
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Jagannath S Pawar
Responded 3 years ago
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