Explanation to section 185(1) of the Income-tax Act, 1961-Filling of form No.12A in the case of Karta of HUF being a partner in a firm-Clarification regarding

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..... . 207 Dated 24/9/1976 To All Commissioners of Income-tax. Sir, Subject: Explanation to section 185(1) of the Income-tax Act, 1961-Filling of form No.12A in the case of Karta of HUF being a partner in a firm-Clarification regarding.- Reference is invited to the Explanation to section 185(1) of the Income-tax Act, 1961, as substituted by the Taxation Laws (Amendment) Act .....

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..... 2. The Board have examined the question whether the provisions of clause (b) of the Explanation referred to above will apply to a case where a karta of an HUF is a partner in a partnership firm on behalf of his HUF. The Board are of the view that a Karta of the HUF cannot be regarded as a benamidar of the HUF. In view of this, there is no obligation to file Form No.12A in such cases. Yours fai .....

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