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huf affidavit


Clarification regarding HUF cannot be partner in a partnership firm

Clarification that HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF

Simplification of ITR forms and issue of Pan cards

The Government has simplified Income Tax Returns ITR Forms for individuals and HUFs not having business or professional income In ITR Form No 2 and 2A the main form does not contain more than three pages and other information relevant for computation of income will be captured in the schedules which

Electronic Filing of Income Tax Returns for 2015-16 Commences

Electronic Filing of Income Tax Returns for 2015 16 Commences ITR 1 Sahaj 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business ITR 4S SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on Presumptive Basis Taxpayers

ITR 1,2 and 4S simplified for convenience of taxpayers

Income Tax Return Forms ITR 1 2 and 4S Simplified for Convenience of the Tax Payers A New Form ITR 2A Proposed which can be Filed by an Individual or HUF who does not have Capital Gains Income from Business Profession or Foreign Asset Foreign Income In Form ITR 2 and the New Form ITR 2A the Main For

No Change in the Rate of Personal Income-Tax

Surcharge 12 Levied on Individuals HUFs AOPs BOIs Artificial Juridical Persons Firms Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok Sabha today proposed no change in the rate of personal Income t

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Experts Opinions

Formation of huf

Dear Mentors I have received 1 lakh from my mother to start my Huf which include my son and wife Also as per family settlement one house has been transferred in my name from my father and elder brother to me My query is i have deposited 1 lakh in the HUF Can i show rental income from the above menti

Huf formation date on pan card

An asesse have got married on 29 06 2009 now he want to prepare an huf file at now in october 2016 so i want to know that what date will on print on pan and huf deed huf deed should be noteriesed by notery advocate or not can we prapare deed on plain paper or atamp should be required


sir iam a doctor running my own cilnic can i deposit my income from resarch work with pharma company recived by cheque in my huf account and huf income

Gift by grand father to son's huf

My Father wants to transfer immovable property in name of my HUF This Huf consist of me my wife and my son How can he transfer this income earning property Please advice How best can we do through Will or gift I have read these articles http www caclubindia com articles gifts to and from huf 20454 a

Gift from huf

Dear Sir One of my client received the gift from HUF My query is HUF can give gift to members if yes than what is the tax applicability in this case Thanks Regards


Gift received by karta from huf is taxable?

gift received by karta from HUF Is taxable

Permissibility of gifting money to huf

Sir I have formed huf with its member as my wife and two son and me as Karta ten yrs ago Now my query is i can Karta or any member of huf make gift in terms of money not property to huf which shall be tax free and not attracting clubbing provision If yes than up to what limit As per section 64 2 if

Huf : can husband be a karta and wife be a coparcener?

My client is creating a HUF deed and they would like to know whether his wife can be a coparcener of the HUF Two members 1 Karta Husband 2 Coparcener wife Is that possible I am asking this question because the bank manager was raising a question about the inclusion of female as a coparcener Please a

Creating capital for huf

Sir my querry are 1 can karta of a huf make gift any amount of money to his huf and this gift will not be subjected to tax and clubbing provisions will also not be attracted 2 can relative of member of a huf make gift any amount of money to huf and this gift will not be subjected to tax and clubbing

Sale of Shares held by Huf

Share in Hufs demat account were transferred to one of its members trading account for sale However earlier huf was to give gift to the member But later on it came to know that gift by huf to member is void ab initio Now member wants to sell those shares What could be the proper way out

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Section 56(2)(vii): Gifts Received by Individual and HUF

Analysis of TAXATION OF GIFTS Crux Section 56 2 vii Gifts Received by Individual and HUF 1 This section is applicable only when gifts are received by individual and HUF As per the Income Tax Act receiver of gifts is taxed Donor is not taxed under this section 2 Gifts can be in cash or kind Money giv

What is HUF ?

An HUF is a separate entity that can be created by members of a family wherein the members are lineal ascendants or descendants Hindus Buddhists Jains and Sikhs can open HUFs A single person cannot create an HUF Usually the senior most member of the family is considered thekarta the person who manag

Assessment of HUF with perspective of important & recent cases

Hindu Undivided Family HUF A fresh perspective with important recent case laws Background U s 4 of the Income Tax Act 1961 income tax is payable by every person U s 2 31 Person is defined to include a Hindu Undivided Family HUF Section 3 of the Wealth Tax Act 1957 also indicates that wealth is charg

How to reduce tax liability through HUF?

How to reduce tax liability through HUF In this article we will discuss how to reduce the Tax Liability using HUF As it is a separate legal entity in the eyes of Income Tax Act Formation of a HUF Typically a HUF is automatically created As the name suggests a HUF means a family of Hindus However und

Benefits of creating a HUF

HUF Total Basic Idea for Businessman Estate Planner WHAT IS A HINDU UNDIVIDED FAMILY 1 In general HUF means a body of persons lineally descendant from a common ancestor including their wives and unmarried daughters who are staying jointly 2 The head of the family who is the eldest male member genera

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Updated on : 10/23/2016 5:00:18 AM


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