Huf
This query is : Resolved
sahil mahajan
(Querist)
09 March 2013
An assese creates Huf & he requires 10 lacs capital. how he arrange funds through gift from relatives . defination of RELATIVES for HUF.
CA PARAS BAFNA
(Expert)
09 March 2013
Generally HUF starts with a small capital base, constituted by gifts and family receipts. It depends upon the duration, client's family back ground, ancestral property transfers etc .
.
Relatives for an HUF means its members.
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In case members are having capital they may give loan to the HUF.
.
Loans can be taken from other than family members also.
.
.
Relatives for an HUF means its members.
.
In case members are having capital they may give loan to the HUF.
.
Loans can be taken from other than family members also.
.
sahil mahajan
(Querist)
10 March 2013
for HUF- father,brother,mother,sister,brother-in-law,parents-in-law can be considered as family members
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