Can we create new huf and deposite 2.50 lakh cash in it

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monika (Querist)
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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

Amol S Joglekar (Expert)
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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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monika

monika (Querist)
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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 ?

Amol S Joglekar

Amol S Joglekar (Expert)
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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.

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monika

monika (Querist)
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18 November 2016 NO SIR HIS FATHER HAVE NOT ANY HUF DEED OR PAN OF HIS HUF

monika

monika (Querist)
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18 November 2016 SO HE SHOULD NOT REQUIRED EXIT FROM HIS OLD HUF

monika

monika (Querist)
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18 November 2016 SO HE SHOULD NOT REQUIRED EXIT FROM HIS OLD HUF

Amol S Joglekar

Amol S Joglekar (Expert)
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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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