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


WE HAVE A CUSTOMER BY NAME PAWAN KUMAR VIG HE HAS OPENED AN ACCOUNT IN THE NAME OF NAKUL TEXTILES PROPRIETOR PAWAN KUMAR VIG HUF NOW I WANT TO KNOW WHETHER THE PAN CARD SHOULD BE IN THE NAME OF PAWAN KUMAR VIG HUF OR NAKUL TEXTLES HUF

HUF


can sikh and mona punjabis form HUF

HUF PPF Account


HUF PPF Account now matured but karta died in 1999 so how to settle the claim between four coparcener

Huf bank operation on the demise of karta


My father was the karta in an HUF of which the bank account was opened Myself sister elder married mom were the coparceners Recently my father passed away Bank says this HUF has to be closed another HUF account has to be opened with a new karta either mom or myself only then the funds would be trans

gift of huf


can a huf receive gift from member of another huf and can a huf receive gift from mother of karta of huf thanks in advance

Discussion

Karta of huf is beneficial owner of shares or not

A Company has allotted shares to HUF As HUF cannot be a shareholder in Company name of Karta of HUF is entered in the Shareholders Register of Company Please suggest whether in such case compliance of section 89 of companies act 2013 which talks about declaration of beneficial ownership with Company

Affidavit format

pls provide me Affidavit format for No Prosecution Litigation pending against the Company Shifting of Registered office

Huf tax planning

Hi I have a query My father left leaving his own earned property It was in his individual capacity in his name He died in 2009 and after his death it got transferred in my name in 2012 not in name of my HUF Now my query is Can I take this property in my HUF even though its title is in my individual

Huf creation

Dear Sir Madam I am having quiry releted to creation of HUF My quiry is that Whether HUF can be created immediately after Marriage i e only Husband Wife Whether Both Husband Wife are consider as co partionary

gift of huf

can a huf receive gift from member of another huf and can a huf receive gift from mother of karta of huf thanks in advance

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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 : 3/20/2017 4:48:09 AM


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