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Creation of huf

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 January 2016 Dear All
can I create HUF by gift of my married daughter
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CS Advocate Abhishek Goyal

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CS Advocate Abhishek Goyal (Expert)
14 January 2016 Yes HUF can be created by gift but the gift deed must clearly mention that gift is intended for HUF and not in individual capacity. Bear in mind also the provisions of section 56 relating to gift which prescribes that for HUF its members are its 'relatives' and married daughter may not be member of father's HUF as she will form HUF with her husband so the maximum amount which can be availed as gift from non relatives is Rs. 50000/-.
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