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Huf

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 February 2012 DEAR SIR,

MY CLIENT & HIS WIFE BOTH HAVE PROPERITERSHIP FIRM. NOW MY CLIENT WANT TO CREATE HUF.

MY QUETION IS CAN BOTH CONTINUE PROPERITERSHIP ALONGWITH HUF? AND WHAT ABOUT IT RETURN & THEIR ICOME SEPERATE OR CLUB?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
24 February 2012 Yes they may create a HUF alongside continuing their Prop. Firm.

The IT Returns will be separate.

1 each for both the Husband and Wife and one for the HUF.
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