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Huf
Hello frds, want to know 1)Can i start Business under HUF 2) Should i also possess Assets for huf creation
3) Can a widow with 2 sons & a married daughter Become Karta 4)Does the Rent received by widow in her individual file, from ancestral property be clubbed u/s 64 ??
Replies (3)
1) Yes any business can be done under HUF.
2) Yes assets can be possessed in the name of HUF.
3) Yes the widow can continue the HUF and become karta. There are various judgment in which it has been held that even only female members can continue HUF and become karta.
4) Please be more specific.
W.r.t pt 2) Should Huf compulsory have assets? Or is it optional b.coz widow have 25% share and widow files 25% Rental income in her Individual file ITR-2. Wrt pt4) The existing structure ofof 1% composition scheme was Surrendered and Vat was taken, Now i want to know, will the huf routing pgbp attract, sec 64 i.e clubbing provision?,,,...My intention is Routing Rental income in Individual file of all 4 individual file and 1 among them made Huf(karta) for business income, Suggests is it possible???
W.r.t pt 2) Should Huf compulsory have assets? Or is it optional b.coz widow have 25% share and widow files 25% Rental income in her Individual file ITR-2. Wrt pt4) The existing structure ofof 1% composition scheme was Surrendered and Vat was taken, Now i want to know, will the huf routing pgbp attract, sec 64 i.e clubbing provision?,,,...My intention is Routing Rental income in Individual file of all 4 individual file and 1 among them made Huf(karta) for business income, Suggests is it possible???
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