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H.U.F

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(Querist)
30 March 2009 I wish to know a brief on H.U.F account - how to bring in the initial corpus, how to operate & whether the properties in my individual name could be shown under the H.U.F
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CA. B.SRINIVASULU

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CA. B.SRINIVASULU (Expert)
30 March 2009 HUF is called as hindu undivided family. If you have any ancestral property and if you sell the same or where will is there that the benefit will go to kith and kin then you can form huf. You cannot transfer individual assets to huf assets.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
31 March 2009 If u transfer individual property to HUF property clubbing provisions will get attracted.
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