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


SON MADE A HUF KARTA

Huf


SUN MADE A HUF KARTA

Hra & huf


I have my own flat in Kolkata Now I am shifting there I am salaried individual Can I transfer my flat in my huf and accirdingly pay rent to huf and claim HRA

Cash withdrawal limit from bank by other than individual/huf


Dear Experts Please let me know what is the cash withdrawal limit for Company Partnership Firm Proprietorship Concern Trust Society i e other than Individual HUF Sincerely

About HUF


What should be the source of income to start the HUF

Discussion

Change composition of my firm from huf to propritorship

I am having two firms One in my name as Proprietorship and second firm HUF where i am the KARTA SInce these days most of the dont give funding to the HUF firms So i want to change the composition of my firm from HUF to Proprietorship so as to ease up the banking functions Kindly let me know the prop

Huf partition

An HUF exists whose member are husband wife son unmarried and daughter married When the husband Karta dies and in his will he has bequeathed his portion in HUF to his daughter Now after 2 3 years of the death of the karta the daughter asks for partition her share in huf as a coparcenery from the son

Lic maturity amount when premium is paid by huf

What happens to LIC maturity amount of an individual when premium is paid from HUF account Cheque is received in the individuals name how to put it in balance sheet Should the amount be transferred to HUF account

Huf: can a son and a widow mother ceate huf

Can An Unmarried Son and His Mother Create HUF from the inherited property after the death of a Father

Investment through huf

Hello Group members Wanted to check if I can divert my income to generate income Say investment in mutual funds or equity to HUF and show income of investment to be part of HUFOrif I can gift every year some 2 3L to HUF out of individual salary and invest this sum and not club the investment income

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File Download

  • 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
  • SBI Loan Affidavit in Excel Format

    THIS AFFIDAVIT FORMAT IS USED WHILE TAKING CASH CREDIT FROM STATE BANK OF INDIA

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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 : 4/21/2017 9:13:09 AM


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