Creation of huf
This query is : Resolved
16 December 2014
Sir
One of my friend is having FDR worth Rs.5000000 and now he wants to create HUF.So suggest me how he can use this money in HUF and how he can create capital for HUF
One of my friend is having FDR worth Rs.5000000 and now he wants to create HUF.So suggest me how he can use this money in HUF and how he can create capital for HUF
Amol S Joglekar
(Expert)
16 December 2014
There is NO any method of CREATION of HUF. This is a very WRONG word in vogue, by many practitioneers.
At the most there can be HUF without any property. But, please, CREATION of HUF per se is NOT possible as per HINDU Law.
A fiction which some people use is they accept gift from some friend in the name of say XYZ HUF...and that is how they claim that HUF is created. But per se CREATION is a wrong word to be used.
At the most there can be HUF without any property. But, please, CREATION of HUF per se is NOT possible as per HINDU Law.
A fiction which some people use is they accept gift from some friend in the name of say XYZ HUF...and that is how they claim that HUF is created. But per se CREATION is a wrong word to be used.
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