Formation of huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 August 2012
Can HUF be formed by an Ist Class Govt. Officer who is getting salary from Govt. if yes so can he operate this HUF as a karta or his Professional wife can operate the same.
Further his wife can also show her professional income in this huf.
Further his wife can also show her professional income in this huf.
Amol S Joglekar
(Expert)
21 August 2012
As the word suggests... HUF is the prime right of HUNDU as defined under Hindu Law. Another good proposition under HUF, is that HUF may exist without even a property. The question is that can anybody make use of this for taxation purpose? Many a people have taken a gift from their friends and thus created an illusion that have created HUF.
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