Huf

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sahil mahajan (Querist)
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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

CA PARAS BAFNA (Expert)
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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 .
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Relatives for an HUF means its members.
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In case members are having capital they may give loan to the HUF.
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Loans can be taken from other than family members also.
.

sahil mahajan

sahil mahajan (Querist)
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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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