Creating huf after death of the father.
This query is : Resolved
02 February 2016
A father left behind some ancestral and deposits (made from salary savings) to his wife and two major sons (unmarried) in the year 2006. Now they want to create HUF and transfer these assets to the corpus of HUF.
Please guide me on tax treatment of the same.
Read more at: https://www.caclubindia.com/
Please guide me on tax treatment of the same.
Read more at: https://www.caclubindia.com/
02 February 2016
HUF can be created any time. However, it comes into existence naturally, when a male child gets married and starts his family.
You may follow the below three step process for creation of HUF:
1. Create a HUF deed consisting of Karta and members / coparceners;
2. Apply for a separate PAN card for HUF;
3. Open a separate bank account for HUF.
You may follow the below three step process for creation of HUF:
1. Create a HUF deed consisting of Karta and members / coparceners;
2. Apply for a separate PAN card for HUF;
3. Open a separate bank account for HUF.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- FORM 26A APPLICABILITY
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
