huf affidavit

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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 CREATION


while drafting HUF deed minor child s name is also mentioned Is he considered a coparcener in HUF

Partition of huf


Can Minor child relinquish his her right from Great Grandfathers HUF If yes how

karta PAN of HUF PAN


whose DSC is to be register in GST portal HUF or karta for HUF firm

HUF


Gift received by Karta from his Grand parents is not taxable in his own hands and what tax implications will be there if same amount is employes in his HUF

How to change karta of huf?


After the demise of father we want our mother to be karta of HUF even though all the coparcener even male is adult 1 Is it possible for female to become karta of HUF in this case 2 What is the procedure for change of Karta in PAN 3 Form 49A for correction of PAN data does not provide any option for

Discussion

huf related

I am Karta of hug can I add funds to it what would be tax implications

Huf can give loan to its member

my son is taking admission in bits pillani he needs 4lacs pa for his education can huf can give education loan to its members

Huf tax implications

Gift received by Karta from his Grand parents is not taxable in his own hands and what tax implications will be there if same amount is employes in his HUF Read more at http www caclubindia com experts huf 2483414 asp

Huf tax related questions

I have the following question regarding taxation for a HUF account 1 Can I transfer other incomes into the HUF account for example incomes sources like rental income interest earned on my FD 2 Am I allowed to make FDs and earn interest on HUF account 3 If answer to 2 is YES will the income earned on

donation limit for HUF

Dear sir pls tell me what is per day cash donation limit of huf

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File Download

  • STK-4 Word Format

    AFFIDAVIT IN FORM STK 4 TO BE ATTACHED ALONG WITH FORM STK 2
  • Closure of Company Section 248 Company's Act, 2013

    STK 2 ATTACHMENT FORMAT WORD FORMAT
  • 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

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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 : 6/19/2017 10:28:21 PM


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