Can make a huf files

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Querist : Anonymous

Querist : Anonymous (Querist)

15 April 2013 if my client has a on baby child ( ladki) .
can he make HUF File.

urgent please.

CA Sourabh Agarwal

CA Sourabh Agarwal (Expert)
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16 April 2013 HUF is formed after marriage not after birth of child. It was old concept now not in force.

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Anand

Anand (Expert)
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16 April 2013 Your HUF is formed once you get married.
It is very much still recognised by the income tax act. so you may go ahead and apply for PAN so that your HUF file is created. certain assets can be transferred to the HUF for purpose of tax planning.

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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31 May 2013 Yes you can also have a HUF file. The problem is of the capital. Take gift from either father or mother in the name of your HUF and do business with that money.
Your HUF is formed from the day you are born but till your marriage there is no co-partioner and hence once you are married you can open your HUF File.

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