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PROCEDURES TO CREATE HUF

Ca Aashish Upadhyay (CONSULTANTS) (913 Points)

26 January 2008

hey

can any one tell me the procedures to create and form a new huf

is there is any affidavite is required if yes what is the contents of the same

regards to all

CA Aashish

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34 Replies

(Guest)

HOW TO CREAT HUF WHICH FORMAT REQUIRED TO HUF WHAT IS PROCESS

(Guest)

Kindly help me with formation of HUF and also with the Deed of Declaration required for the same. Its kind of very urgent for me. Thanks a lot

(Guest)

1) Get a cheque from your parents or relatives of any amount 2)form a deed for creating HUF (right now no format but will provide soon) 3) Apply for PAN card, giving deed and other proofs. 4) on getting pan apply for huf account with bank yours huf is formed, remember only a married can form HUF

(Guest)

PROCEDURES TO CREATE HUF

CA. Kirti S. Ganatra (Service) (1461 Points)
Replied 28 February 2008

HUF is not as per any law. It is in indian tradition only. So, it is not to be formed by any deed like we do in partnership. It is formed by nature. to start you have to just open a bank account. then start transaction as like seperate entity

Rounak (Student) (33 Points)
Replied 29 February 2008

Is the view given by Kirti true? Anyone reading the post now, plz give your opinion

Subhash Agrawal (C.A.) (28 Points)
Replied 29 February 2008

YES. view given by kirti is correct. But practicaly HUF is formed by receiveg cash gift of Rs. 5000/- to 20000/- from any relative of Karta.

Ramkrishna (Accountant) (325 Points)
Replied 01 March 2008

plz give details in more abt HUF and its

pushpendra (Director- FinMAT Consultants) (1703 Points)
Replied 01 March 2008

HUF Can be crated only by two ways 1. either from the ancesteral propery or 2. by gift in favour of HUF. and in this gift deed following point to be noted. a) it is to be clearly mentioned that gift is for the benifit of family of Mr. X cnosisting of ......... b) name of every member should be there. and no other way for crating the HUF in my opinion.