Huf can be a proprietor?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 May 2016 Dear all

We want to start a proprietorship firm in the name of Pickherbal. My query is whether the proprietorship can be start with HUF as a proprietor? if Yes, then PAN Card has to be in the name of HUF? and Bank account is to be open in the name of Proprietor i.e. HUF or in the name of Pickherbal?

Thanks

CA Mithil Munot

CA Mithil Munot (Expert)
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17 May 2016 Assuming it as Trading Business
1) Yes HUF can be proprietor
2) PAN card must be in name of HUF
3) You can open saving account in name of HUF and current account in name of Pickherbal

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