Can we create new huf and deposite 2.50 lakh cash in it
This query is : Resolved
18 November 2016
can we create HUF deed at now and aply for PAN card? after receiving pan and open bank can we diposite rs. 2.50 lakh in huf acount before 30 december 2016?
Amol S Joglekar
(Expert)
18 November 2016
HUF can NOT be created. It should be there in existence. (Please understand the subtle difference.....HUF may exist without any property) You need to check if at all your HUF exists. Dont try to CREATE
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18 November 2016
SIR MY CLIENT HAVE MARRIED IN 2005 ,
HE HAVE NOT CREAT ANY HUF DEED OR PAN CARD TILL NOW
AND HE HAVE NOT ANY FIXED ASSETS IN HIS HUF
BUT HE CAN START RECIEVE SOME GIFT IN CASH FROM HIS FATHER OR FREIND
CAN HE SHOW SOME INCOME OF LAST FEW YEAR
BECAUSE AN HUF CREAT AUTOMATICLLY AFTER MARRIEGE
CAN HE DEPOSITE THOSE AMOUNT ALSO THAT HUF EARN IN PERIOD OF NOT HAVING PAN OR HUF DEED ?
HE HAVE NOT CREAT ANY HUF DEED OR PAN CARD TILL NOW
AND HE HAVE NOT ANY FIXED ASSETS IN HIS HUF
BUT HE CAN START RECIEVE SOME GIFT IN CASH FROM HIS FATHER OR FREIND
CAN HE SHOW SOME INCOME OF LAST FEW YEAR
BECAUSE AN HUF CREAT AUTOMATICLLY AFTER MARRIEGE
CAN HE DEPOSITE THOSE AMOUNT ALSO THAT HUF EARN IN PERIOD OF NOT HAVING PAN OR HUF DEED ?
Amol S Joglekar
(Expert)
18 November 2016
Even without marriage also, HUF can exist.
So you have picked up the subtle point in my reply... Go ahead.... HUF does exist. It got strengthened at the instance of marriage of your client. No any question of CREATING it. It is very much there.....just Go ahead.
So you have picked up the subtle point in my reply... Go ahead.... HUF does exist. It got strengthened at the instance of marriage of your client. No any question of CREATING it. It is very much there.....just Go ahead.
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Amol S Joglekar
(Expert)
18 November 2016
Every hindu has his HUF. It can be with property OR without property. It is immaterial if his father has HUF or not.
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