Creat huf

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 September 2013 I want to create HUF with 35 lakh Rs., there will be 4 members in HUF, Karta-Spouse-2 Children (Minor)

I want to know
1. How come 35 lakh to HUF?
2. What is the income of HUF?
3. can member(Individual)of HUF personally gift to his child (As HUF Member)?
4. Can HUF pay the insurance premium of running policy of Karta.
5. Can Karta transfer his personal property to HUF

Ajay Mishra

Ajay Mishra (Expert)
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28 September 2013 Hi

Go to the following link:

http://taxguru.in/income-tax/meaning-formation-taxation-membership-and-partition-of-huf.html

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