Second HUF Name
This query is : Resolved
02 June 2023
I had formed HUF with self, mother and wife in my name say NG (HUF) and am Karta of this HUF. This can be my father's HUF but I had not named it in fathers name as he had expired 7 years ago and I formed and registered the HUF 2 years after his passing away. His PAN was closed. I had a daughter around 10 months ago and now I want to register another HUF with self, wife and daughter as coparceners. Can I register this 2nd HUF also in my name as NG (HUF) with myself as Karta. Date of formation will be 2022. I am keeping names same as typically HUF name is Karta Name (HUF). Is this legitimate as per IT Act as law says an individual/HUF/entity cannot have 2 Pan cards. Will the 2 HUFs be considered different as coparceners are different & smaller HUF within family is permissible and DOB is different for both. But the names of both HUFs being same NG (HUF) and other details of Karta ie myself being same, am seeking clarity.
Read more at: https://www.caclubindia.com/experts/huf-income-tax--2899514.asp
Read more at: https://www.caclubindia.com/experts/huf-income-tax--2899514.asp
03 June 2023
Formation of first HUF NG(HUF) is controversial.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Eway bill for machinery reparing
- Under construction property in ITR
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
