Hey
I am Vihar Patel
I want to open an HUF Account , with Me and My Wife and My Mother Is it possible to open this way?
In addiion if account open in MY NAME AS KARTA , Should my father give a cash money as gift in HUF Account?
If yes what is a clubbing tax rules for HUF and Gift Tax Rules for HUF?
Please Share a knowledge to guide me.
you cannot make huf with ur parents.and gift received from father will be taxable as father will not be huf.
its better if ur father (karta will be your father ) makes a huf with ur mother. your wife and you and than the gift received from father will be exempt.
S.B.G. & CO. CHARTERED ACCOUNTANTS
New Delhi
CA Inter
View Details
AJAY SINGH AND CO LLP
Thane
CA Final
View Details
Abic and Mani Chartered Accountants
Kottayam
B.Com
View Details
CCI
Pro
CAclubindia
