Creation of huf

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CA Tanay Jindal (Querist)
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03 May 2016 What is the advisable method to start a HUF Income Tax File when no ancestrol property is available and father and mother of the Karta is no more

1. by taking gift from the Elder Brother of the Karta.

2. or gift from the Father in Law of the Karta

3. or any other method to Start HUF File.

CA ALOK KUMAR

CA ALOK KUMAR (Expert)
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04 May 2016 To start HUF, you need to execute HUF deed. It should be duly signed by Karta and coparcener (member) of HUF. HUF can take loan from relative of Karta or member to start it's business. After having sufficient reserve you can repay the loan amount. For any further query, you may write us to info@wealth4india. com or call us @9818167102. Alternatively you may request call back @ www.wealth4india.com

CA Tanay Jindal

CA Tanay Jindal (Querist)
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04 May 2016 Thanks for the reply

your answer is not in reference with the question i asked..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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20 October 2021 A Hindu Undivided Family can be created by following ways

1. Blending of individual property with the family Hotchpot

2. Receipts of Gifts

3. Doing Joint labour for the benefit of HUF

4. Inheritance through a specific bequest under a Will

5. Partition of a larger Hindu Undivided Family

6. Reunion of separated co-parceners

https://taxguru.in/income-tax/create-hindu-undivided-family-huf.html