HUF

This query is : Resolved

K. R. Singhal (Querist)
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01 May 2009 Can a male person, having his wife and three daughters in his family, form HUF?
What steps should be taken?
Whether married daughter will be part of such HUF?
Is it necessary to file IT return if the aggregate annual income of such HUF is below Rs. 1,00,000 (Rs. one lakh)?

Please guide with your expert opinion.

Jagdish Bhalia

Jagdish Bhalia (Expert)
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01 May 2009 Yes you can form HUF
Obtain Pan Card in the name of HUF
Open Bank account in the name of HUF

U/s 139 If the Income is below taxable limit then u need not to file ITR