huf affidavit

News

Threshold limit increased for maintenance of books of accounts of Individuals and HUF


Increasing the threshold limit for maintenance of books of accounts in case of Individuals and Hindu undivided family The existing provisions of clause i and clause ii of sub section 2 of section 44AA of the Act cast an obligation on every person carrying on business or profession other than those m

Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore


Finance Minister unveils string of measures towards Ease of Doing Business Presumptive income scheme for audit of entities raised from Rs 1 crore to Rs 2 crore Threshold for maintenance of books for individuals and HUF more than doubled Individual Insurance agents earning below taxable limit to be e

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

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Experts Opinions

Huf date of incorporation


Dear sir one hindu person has married in year 1991 late on his wife died in 2013 and remarried in year 2014 earlier no huf is created for creation of huf what is the date of incorporation pls reply thanks

Dormant huf


abc HUF is having a holding in a pvt ltd company but the HUF has not filed any return for last two years now the present karta of the HUF is also the member of the company want to takes the shares HUF how it can be possible if the HUF donot have any bank account with it and has not filed any income

Format of affidavit and declaration by first subscriber


Can any one Provide me the format of Affidavit and declaration by first subscriber and director for Company Formation

Proprietorship to huf


Sir Can we convert a proprietorship firm to HUF Person has married and have a son Want to make a HUF for Himself Wife and their Son If Yes then bank account will be again HUF account or proprietor current account Which PAN card will be use in sale tax and bank Again if Firm is XY then bank is openin

Huf property


Any property which is received from ancestors by way of partition or otherwise is HUF property Now my question is if Mr X received Agriculture Land by way of partition on death of his Father before Mr X got married Now after marriage of Mr X is that agriculture land can treat as HUF Property IF Yes

Discussion

Huf

How to register for huf

Home loan certificate from huf

I took the home loan from HUF and pay interest on monthly basis Per rules it s not mandatory to take home loan from financial institution only How can HUF issue interest certificate for me to claim through my employer in income tax under section 24

Creation of huf

Dear Sir Madam Can HUF be created by receiving gift from brother or sister of individual s either of parents or HUF can be created only by gift receiving from member of huf or lineal relative of individual

Huf

Can a HUF provide Labour contractor service

How to create huf

how to create huf

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File Download

  • Declaration under 94A Affidavit

    Declaration under 94A Foreign transaction Affidavit required Rs 100 stamp paper as per assessment Notary SHAILESH SHINDE ASSOCIATES
  • IT Interest Calculator FY 2015-16 AY 2016-17

    Calculates Interest u s 234A 234B and 234C for FY 2015 16 AY 2016 17 for Individuals HUF Firms And Companies in a very easy and simple manner The size of this Excel Utility is just 19 KB In case of any queries or feedback please email me at ca prakashdugar gmail com
  • Income Tax Calculator FY 2016-17 AY 2017-18

    Calculates Income Tax For FY 2016 17 AY 2017 18 For Individuals HUF Firms And Companies in a very easy and friendly manner The size of this excel utility is just 15 KB This is only a Tax Calculator and it does not compute your Taxable Income In case of any queries or feedback please email me at ca prakashdugar gmail com
  • SBI Loan Affidavit in Excel Format

    THIS AFFIDAVIT FORMAT IS USED WHILE TAKING CASH CREDIT FROM STATE BANK OF INDIA
  • Form No. INC-9

    INC 9

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Articles

HUF Taxation and fundings


SOURCES OF FUNDS Explanation Any gifts in cash or in kind received by a HUF from their members are tax free Also gift received by any person from any relatives is tax free Hence a member can receive any gift from their relatives and subsequently may gift the same to their HUF Any gifts in cash or in


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


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Updated on : 2/25/2017 8:14:09 AM


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