banner_ad

Huf

This query is : Resolved 
Profile Image

Profile Image

(Querist)
28 July 2013 A PERSON WANT TO CREATE HUF-
1- WHAT IS PROCESS AND TREATMENT IN INCOME TAX

2- A PERSON CAN DEPOSITS HIS BUSINESS RECEIPTS IN SAVING BANK A/C
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
29 July 2013 For creation of HUF you require ancestral property. If it is not there then you should take gift from father or mother and it can be taken after marriage. Issue is not needed for creation of HUF.

There are 2 schools of Hindu Law
1) Mitakshara
2) Dayabhaga

Now, it depends you belong to which school of Hindu Law.

HUF can be created by only Hindu.

Only the income generated by HUF out of the funds of HUF and therefore, any income generated by individual cannot be deposited in the bank account of HUF
Profile Image

CA VISHNU GAVKARE

Profile Image

CA VISHNU GAVKARE (Expert)
30 July 2013 https://www.caclubindia.com/share_files/huf-a-tax-saving-tool-56088.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details