Huf-income tax

Tax planning 313 views 7 replies

 Can a unmarried MALE person form a HUF-as Karta of his HUF, alongwith other  family member/s , maybe a mother /  brother, as coparcner -member by making a requiste  declaration , , as  as per IT act, there is No mention , of marraige been necessity to have a HUF , will this HUF get a PAN card ?

Replies (7)

" Can a unmarried MALE person form a HUF-as Karta of his HUF,"

As unmarried man has not formed family due to lack of wife........ his own HUF cannot be formed...........

 

"HUF..alongwith other  family member/s , maybe a mother / father / brother, as coparcner -member by making a requiste  declaration "

Yes. Such HUF can be formed in the style as ...... " Father HUF"   in which all this members are inclusive with Father (on paper) as KARTA.......

want to know , In case where Father is having his own HUF , with  Father as  Karta HUF ( bigger HUF), Now his unmarried son , has to foam a HUF , where he will be Karta of HUF (smaller HUF), with mother / brother / sister as member/coparcner of that HUF (smaller HUF)

When son forms his HUF............ in his family all the members should be linearly descendant, but not other way........

In Nutshell ........He cannot form the HUF without his spouse.......... and can include his children... grand children.....great GC..... upto 4 generation.......

Dear Dhiraj sir,

Can cross HUF may be created?? For example if Father is A and son is B (married), can a HUF with the name AB HUF be formed??

Who will be karta?

Who will be members?

How will it differ from either A HUF or B HUF?

dear dhiraj sir,

As per IT law,  for an entity to be taxed as a HUF, it should have at least two coparcener , and  

I have recently created a HUF with my Dad, where I am karta ( by this way > https://itatonline.org/articles_new/the-entire-law-relating-to-hindu-undivided-family-huf-explained/#:~:text=However%2C%20such%20senior,recognized%20as%20Karta. ), and dad coparcener (my HUF DEED consist ONLY me (unmarried) and Dad ) , and i guess KARTA also is coparcener, 

> So is our HUF is authentic to be taxed and ITR ? and shall i start funding to HUF?

 

link details > "An adult male member who manages the affairs of the HUF is known as Karta or Manager of the family.  Only a co-parcener can become Karta.  Generally, the senior most male adult member of the family is made Karta of  HUF.  However, such senior member may give up his right of management  and a junior member may by consent, be appointed as Karta.   Where a junior  member is in custody, control or possession of the property or the eldest  member is not working in the interest  of the family or is working against the  interest of the family, junior member may be recognized as Karta."

 

HUF can be made by KARTA having his family members, which are descendent to him.

He cannot form HUF with his fore/father/s.


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