Huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 December 2012
procedure of formation of Hindu Undivided family it's benefits as per income tax laws
CA Hiren Thakkar
(Expert)
18 December 2012
Hi
From Income Tax point of view, one just need to have PAN card in the name of HUF, to form an HUF.
Apply for PAN card in the name of HUF in form 49A.
HUF is treated as separate entity in Income Tax Laws. So, the benefit is that one can utilise Minimum Slab benefit twice i.e. once for Karta Himself and once for HUF.
From Income Tax point of view, one just need to have PAN card in the name of HUF, to form an HUF.
Apply for PAN card in the name of HUF in form 49A.
HUF is treated as separate entity in Income Tax Laws. So, the benefit is that one can utilise Minimum Slab benefit twice i.e. once for Karta Himself and once for HUF.
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