Hi Friends,
1. Can person having business have Hindu Undivided Family [HUF] File in Income Tax Dept.
If Yes, then what is format of HUF & At what amount Stamp Paper is required.
Can anyone provide me format Of HUF in Word Format.
Regards
Sanjiv Shah
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HUF ?
Replies (3)
you will make HUF deed on Rs.100/- stamp include all members name in your family like wife son,daughter take signature from whome who are 18 years and above then you will open a bank a/c in huf's name then apply for pancard
from where you will introduce capital it is important if you are taking any gift then you will brought gift maximum 150000/- in this year u/s 56(2)(VI)
could u please tell me if huf gives gift to its member is this taxable in the hands of member
IF GIFT IS IN EXCESS OF RS.50000/- IN THE YEAR TEHN IT IS TAXABLE BUT IF INDIVIDUALS INCOME IS LESS THAN BASIC EXEMTION THEN IT IS NOT TAXABLE
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