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Creation of huf

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This query is : Resolved

Debashis Mandal (Querist)
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12 May 2013 Respected experts

To form one HUF a gift of Rs.20000/- is given by one assessees father in law & that is also to be given through writing on Non juditial stamp paper - now
1. what value of stamp paper is to be purchased
2. when the gift is comming from Channai to Kolkata is the such stamp paper to be purchased from kolkata or from channai.
3. & also in whose name such stamp paper is to be purchased - in the name of husbend or wife or both or in the name of the donner.

Pls guid us
Thanks
Debashis Mandal

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

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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27 June 2013 1) Prepare on 100/- rupee stmp paper
2) The donor is from Chinnai so it is to be purchased from Chinnai
3) It is to be purchased in the name of the donor

You have to draft the Gift deed in such a manner that it is for the use of the family and not for individual. How, you will do it is up to you so that there should not arise any question on formation of HUF

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