Hindu Undivided Family (HUF) For AY 2022-2023

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Hindu Undivided Family (HUF) for AY 2022-2023
Returns and Forms Applicable for Hindu Undivided

Family (HUF) for AY 2022-2023
Disclaimer: The content on this page is only to

give an overview and general guidance and is
not exhaustive. For complete details and
guidelines please refer Income Tax Act, Rules
and Notifications.
1. ITR-2 - Applicable for Individual and HUF
This return is applicable for Individual and Hindu Undivided Family (HUF)
Not having income under the head

Who is not eligible for filing ITR-
Profits and Gains of Business or
1 (applicable only for individual)
Profession
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2. ITR-3 - Applicable for Individual and HUF ‌
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for Individual and Hindu Undivided Family (HUF)
Having income under the head Profits and Who is not eligible for filing
Gains of Business or Profession ITR-1, ITR-2 or ITR-4
applicable)
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3. ITR-4 (SUGAM) - Applicable for Individual, HUF and Firm ‌
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This return is applicable for an Individual or Hindu Undivided Family (HUF), who
is Resident other than Not Ordinarily Resident or a Firm (other than LLP) which
is a Resident having Total Income up to ₹ 50 lakh and having income from
Business or Profession which is computed on a presumptive basis (u/s 44AD /
applicable)
44ADA / 44AE) and income from any of the following sources:
Other sources
Agricultural
Salary / One House (Interest, Family
Income up to ₹
Pension Property Pension Dividend
5,000
etc.)
Note:
ITR-4 cannot be used by a person who:
(a) is a Director in a company
(b) has held any unlisted equity shares at any
time during the previous year
(c) has any asset (including financial interest
in any entity) located outside India
(d) has signing authority in any account
located outside India
(e) has income from any source outside India
(f) is a person in whose case payment or
deduction of tax has been deferred on ESOP
(g) who has any brought forward loss or loss
to be carried forward under any head of
income
Please note that ITR-4 (Sugam) is not

mandatory. It is a simplified return form to be
used by an Assessee, at his option, if he is
eligible to declare Profits and Gains from
Business and Profession on presumptive
basis u/s 44AD, 44ADA or 44AE.
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Forms Applicable
1. Form 16A – Certificate u/s 203 of the Income Tax Act, ‌
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Provided by Details provided in the form:

applicable) Form 16A is a Tax Deducted at Source (TDS)
Deductor to certificate that denotes the amount of TDS, Nature
Deductee of Payments and the TDS deposited with the Income
Tax Department on Income other than Salary
2. Form 26AS - Annual Information Statement
Provided by Details provided in the form
Income Tax
Department
(It is available on Tax Deducted / Collected at Source
the TRACES portal Advance Tax / Self-Assessment Tax paid
that may be Specified Financial Transactions
accessed after
Demand / Refund
logging on to e-
Filing portal or Pending / Completed Proceedings
Internet Banking)
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3. Form 15G - Declaration by resident taxpayer (not being a ‌
Company Call or Firm) claiming Logincertain receipts without deduction
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Submitted by Details provided in the form

applicable)
A Resident
Individual less than
60 years or HUF or
any other Person
(other than
Company / Firm),
Estimated Income for the FY
to Bank, for not
deducting TDS on
interest income if
the income is
below basic
exemption limit
4. Form 67- Statement of Income from a country or specified

territory outside India and Foreign Tax Credit
Taxpayer, to be
furnished on or
before due date Income from a country or specified territory outside
specified for India and Foreign Tax Credit claimed
furnishing the ITRs
u/s 139(1)
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5. Form 3CB-3CD
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Taxpayer who is
required to get his
applicable)
Accounts audited
by an Accountant Report of Audit of Accounts (Form 3CB) and
u/s 44AB. To be Statement of Particulars (Form 3CD) required to be
furnished on or furnished u/s 44AB of the Income Tax Act, 1961
before 30th
September of the
AY
6. Form 3CEB
Taxpayer who
enters into an
international
transaction or
specified domestic
transaction is
Report from a chartered accountant containing
required to obtain a
details of all International Transaction(s) and
report from a
Specified Domestic Transaction(s)
chartered
accountant u/s
92E. To be
furnished on or
before 31st
October of the AY
Tax Slabs for AY 2022-2023 x

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Individuals and HUFs can opt for the Existing Tax Regime or the New Tax Regime with
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lower rate of taxation (u/s 115 BAC of the Income Tax
I amAct)
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The taxpayer opting for concessional rates in the New Tax Regime will not be ‌
allowed certain
Call exemptions andLogin deductions (like 80C, 80D,80TTB, HRA)
available in
Usthe Existing Tax Regime.
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Existing Tax Regime New Tax Regime
Income Tax Income Tax

Income Tax Slab Income Tax Slab
Rate Rate
applicable)
Up to ₹ Up to ₹
Nil Nil
2,50,000 2,50,000
₹ 2,50,001 - ₹ 5% above ₹ ₹ 2,50,001 - ₹ 5% above ₹

5,00,000 2,50,000 5,00,000 2,50,000
₹ 5,00,001 - ₹ ₹ 12,500 + 20% ₹ 5,00,001 - ₹ ₹ 12,500 + 10%

10,00,000 above ₹ 5,00,000 7,50,000 above ₹ 5,00,000
₹ 1,12,500 + 30%
Above ₹ ₹ 7,50,001 - ₹ ₹ 37,500 + 15%
above ₹
10,00,000 10,00,000 above ₹ 7,50,000
10,00,000
₹ 75,000 + 20%
₹ 10,00,001 -
above ₹
₹ 12,50,000
10,00,000
₹ 1,25,000 + 25%
₹ 12,50,001 -
above ₹
₹ 15,00,000
12,50,000
₹ 1,87,500 + 30%
Above ₹
above ₹
15,00,000
15,00,000
Note: The rates of Surcharge and Health &

Education cess are same under both the tax x
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Surcharge, Marginal Relief and Health & Education Cess
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What
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Surcharge is an additional charge levied for persons earning income
above the specified limits, it is charged on the amount of income tax
calculated as per applicable rates
10% - Taxable Income above ₹ 50 lakh – Up to ₹ 1 crore
15% - Taxable Income above ₹ 1 crore - up to ₹ 2 crore
25% - Taxable Income above ₹ 2 crore - up to ₹ 5 crore
applicable) 37% - Taxable Income above ₹ 5 crore
Maximum Surcharge on income by way of dividend or income
under the provisions of Sections 111A, 112A and 115AD is 15%
What is Marginal Relief?
Marginal relief is a relief from Surcharge, provided in cases where the

Surcharge payable exceeds the additional income that makes the
person liable for Surcharge. The amount payable as Surcharge shall
not exceed the amount of income earned exceeding ₹ 50 lakhs, ₹ 1
crore, ₹ 2 crore or ₹ 5 crores respectively
What is Health & Education cess?
Health & Education cess @ 4% shall also be paid on the amount of

income tax plus Surcharge (if any)
Investments / Payments / Incomes on which a

taxpayer can get tax benefit
Section 24 (b) – Deduction from income from house property on interest paid on
housing loan and housing improvement loan. In case of self-occupied property, the
upper limit for deduction of interest paid on housing loan is ₹ 2,00,000. However, this
deduction is not available for person opting for New Tax Regime.
Interest on loan u/s 24(b) allowable is tabulated below
Allowable x
Nature of When loan was TaxGenie
Purpose of Loan Interest
Property taken
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Construction or
On or after ‌
purchase of house ₹ 2,00,000
Call 01/04/1999
property
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On or For Repairs of
₹ 30,000
after01/04/1999 house property
Self-
occupied
Construction or
Before
applicable) purchase of House ₹ 30,000
01/04/1999
property
Before For Repairs of

₹ 30,000
01/04/1999 house property
Construction or
Interest without
Let-Out Any-time purchase of house
any limit
property
Tax deductions specified under Chapter VIA of the Income Tax Act
These deductions will not be available to a taxpayer opting for the New Tax Regime
u/s 115 BAC
80C
Deduction towards payments

made to
Life Insurance Premium

Provident Fund
Subscription to certain
Combined deduction
equity shares
limit of ₹ 1,50,000
Tuition Fees
National Savings
Certificate,
Housing Loan Principal
Other various items
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80D ‌
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Deduction towards payments made to Health Insurance Premium & Preventive
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Health check up
applicable)
Deduction limit is
₹ 25,000 (₹ 50,000 if any
For Self / Spouse or
person is a Senior Citizen)
Dependent Children
₹ 5,000 for preventive health
check up, included in above
limit
Deduction limit is

₹ 25,000 (₹50,000 if any
For Parents person is a Senior Citizen)
₹ 5,000 for preventive health
check up, included in above
limit
Deduction towards medical expenditure incurred on a Senior Citizen, if no

premium is paid on health insurance coverage
For Self / Spouse or Dependent Deduction limit is ₹

Children 50,000
For Parents Deduction limit is

₹ 50,000 x
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80DD ‌
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Flat deduction of
₹ 75,000
available for a person
with Disability,
Deduction towards payments made irrespective of
towards Maintenance or Medical expense incurred
applicable)
Treatment of a Disabled dependent
or paid / Deposited any amount
The deduction is
under relevant approved scheme ₹ 1,25,000
if the person has
Severe Disability (80%
or more)
80DDB
Deduction limit of
Deduction towards payments made ₹ 40,000
towards Medical Treatment of Self or (₹1,00,000 if Senior
dependant for specified disease Citizen)
80G
Deduction towards donations made to prescribed Funds, Charitable Institutions,

etc.
Donation are eligible for deduction under the below categories
100% deduction
Without any limit 50% deduction
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100% deduction
Subject to qualifying limit 50% deduction
Note: No deduction shall be allowed under this Section in respect of donation

made in cash exceeding ₹ 2,000/-
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Deduction towards donations made for Scientific Research or Rural

Development
Donation are eligible for deduction under the below categories
applicable)
Research Association or University, College or other Institution for
Scientific Research
Social Science or Statistical Research
Association or Institution for

Rural Development
Conservation of Natural Resources or for Afforestation
PSU or Local Authority or an Association or Institution approved by the

National Committee for carrying out any eligible project
Funds notified by Central Government for

Afforestation
Rural Development
National Urban Poverty Eradication Fund as setup and notified by Central

Government
Note: No deduction shall be allowed under this Section in respect of donation

made in cash exceeding ₹ 2,000/-
80GGC
Deduction of total
Deduction towards donations made to amount paid through
Political Party or Electoral Trust any mode other than x
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80TTA ‌
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Deduction on interest received on Deduction limit
saving bank accounts by Non-Senior of
Citizens ₹ 10,000
applicable)
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Returns and Forms Applicable for Hindu Undivided

Disclaimer: The content on this page is only to

1. ITR-2 - Applicable for Individual and HUF

This return is applicable for Individual and Hindu Undivided Family (HUF)

Not having income under the head

Please note that ITR-4 (Sugam) is not

Provided by Details provided in the form:

2. Form 26AS - Annual Information Statement

Provided by Details provided in the form

Submitted by Details provided in the form

4. Form 67- Statement of Income from a country or specified

Submitted by Details provided in the form

Submitted by Details provided in the form

Submitted by Details provided in the form

Tax Slabs for AY 2022-2023 x

Existing Tax Regime New Tax Regime

Income Tax Income Tax

₹ 2,50,001 - ₹ 5% above ₹ ₹ 2,50,001 - ₹ 5% above ₹

₹ 5,00,001 - ₹ ₹ 12,500 + 20% ₹ 5,00,001 - ₹ ₹ 12,500 + 10%

Note: The rates of Surcharge and Health &

What is Marginal Relief?

Marginal relief is a relief from Surcharge, provided in cases where the

What is Health & Education cess?

Health & Education cess @ 4% shall also be paid on the amount of

Investments / Payments / Incomes on which a

Interest on loan u/s 24(b) allowable is tabulated below

Before For Repairs of

Deduction towards payments

Life Insurance Premium

Deduction limit is

Deduction towards medical expenditure incurred on a Senior Citizen, if no

For Self / Spouse or Dependent Deduction limit is ₹

For Parents Deduction limit is

Deduction towards donations made to prescribed Funds, Charitable Institutions,

Note: No deduction shall be allowed under this Section in respect of donation

Deduction towards donations made for Scientific Research or Rural

Association or Institution for

PSU or Local Authority or an Association or Institution approved by the

Funds notified by Central Government for

National Urban Poverty Eradication Fund as setup and notified by Central

Note: No deduction shall be allowed under this Section in respect of donation

Page Last Reviewed or Updated: 28-Sep-2022

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Last reviewed and updated on : 08-Apr-2023

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