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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

Creation of huf


Can creation of HUF is possible through gift from karta s wife

Whether income earned by huf on cash gift received from co


whether income earned by huf on cash gift received from co parcners is taxable to Income Tax Act in the hands of co parcners or huf Facts Co parcners made cash gift of Rs 10 Lacs to his Huf The Huf has invested said cash of Rs 10 Lacs in Bank FD and earn interest of Rs 12000 on it Whether interest e

Applicabilty of chapter vi for huf and other queries


Dear pl clarify 1 whether HUF also can claim chapter VI A deductions like PPF contribution Medical insurance premium and other categories under chap VI A to the members of HUF 2 whether members can contribute to the capital of HUF by way of interest free loan 3 whether cash gift from father to his s

mentioning of nominee of term insurance plan propsed by huf


what remedy is available against insurance company of NOT MENTIONING of NOMINEE in POLICY CERTIFICATE for a term insurance policy proposed through income of a HUF taken on life of either Karta member co parcner case is in particular with ICICI prudential insurance and LIC

Female as a karta in huf ??


Sunil Kumar Gupta Huf was contituted in 1991 with Mr Sunil Kumar as Karta Mrs Saroj Gupta Wife Ms Sarika Ms Indu both daughters as Members Presently both daughters are major un married This HUF has maintains a SB Account and Depository Account with a private sector Bank where Mr Sunil Kumar was only

Discussion

Format of affidavit for e-form chg-8

DEAR ALL PLEASE PROVIDE THE FORMAT OF AFFIDAVIT ATTACHED WITH e FORM CHG 8 FOR CONDONATION OF DELAY THANX IN ADVANCE

Service tax for huf

The service tax rates and other terms like late filing penalities are the same for Individulas and HUF s or is there any different treatment for HUF

Huf gifts property to another huf

Hi Just want to know about gift made by HUF Situation A Fathers Grandfathers HUF gifts an immovable property to their SonHUF without any consideration Is thesame is chargeable to tax Gift is made through love and affection to the Sons HUF Also if any income arisies from the transfered property will

Huf asset & liability partition & huf partition

Respect Sir mera ek HUF Client hai uski death ho gay hai or uske 2 son or wife hai or abhi dono son ka new HUF karna hai to kya karna padega

Creation of huf

DEAR ALL I WANT TO KNOW ABOUT PROCEDURE OF CREATION OF HUF ALSO STAMP DUTY VALUE FOR CREATION OF HUF DEED IN GIJARAT THANK YOU IN ADVANCE

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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


Taxation of gifts by an Individual/HUF


As per section 56 2 vii of Income Tax Act gifts received by an individual or a hindu undivided family in the form of money or property without consideration or with inadequate consideration is taxable as income under the head Income from Other Sources provided such income falls under five categories


Karniti Part- 36: What is "HUF" (Hindu Undivided Family)?


Arjuna Fictional Character Krishna What is mean by HUF Hindu Undivided Family under Income Tax Act Krishna Fictional Character Arjuna Generally in India mother father son and daughter in law grandsons live together In this father heads the family In legal terms this may be known as Hindu Undivided F


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Updated on : 7/30/2016 6:39:10 PM


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