Huf capital creation

833 views 5 replies

Hi Friends,

My family consists of 4 members - me, my wife, my father, my mother.

If we decide to create HUF of my father & my mother with father as Karta -

1. Whom amongst 4 of us can transfer tax free money to HUF account ? Any legal process involved in transferring the corpus from Non-HUF / HUF member?

2. Can a HUF member (as an individual) transfer corpus into HUF account tax free ?

3. Income from income is tax free. But is income from gift also tax free ?

Please note that we do not have any ancestral property, etc. We plan to use HUF only for the purpose of saving tax through our corpus.

Regards,

Rohit

Replies (5)

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nobody for help ?

Did you get the answer or still searching ?

send email to my id baachcha @ hotmail.com.

I will forward documents if you read them you will understand and find answeres to your quiereis.

 

 

I dont think there would be any problem until the amount is huge. But please file the return on time of the same. 


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