huf affidavit

News

Threshold limit increased for maintenance of books of accounts of Individuals and HUF


Increasing the threshold limit for maintenance of books of accounts in case of Individuals and Hindu undivided family The existing provisions of clause i and clause ii of sub section 2 of section 44AA of the Act cast an obligation on every person carrying on business or profession other than those m

Presumptive income scheme for audit of entities raised from Rs. 1 crore to Rs. 2 crore


Finance Minister unveils string of measures towards Ease of Doing Business Presumptive income scheme for audit of entities raised from Rs 1 crore to Rs 2 crore Threshold for maintenance of books for individuals and HUF more than doubled Individual Insurance agents earning below taxable limit to be e

Clarification regarding HUF cannot be partner in a partnership firm


Clarification that HUF cannot be a partner but its karta or any individual of HUF can be a partner in a partnership firm in its individual capacity and not the HUF

Simplification of ITR forms and issue of Pan cards


The Government has simplified Income Tax Returns ITR Forms for individuals and HUFs not having business or professional income In ITR Form No 2 and 2A the main form does not contain more than three pages and other information relevant for computation of income will be captured in the schedules which

Electronic Filing of Income Tax Returns for 2015-16 Commences


Electronic Filing of Income Tax Returns for 2015 16 Commences ITR 1 Sahaj 2 and 2A can be Used by Individuals or HUF Whose Income Does not Include Income from Business ITR 4S SUGAM can be Used by an Individual or an HUF Whose Income Includes Business Income Assessable on Presumptive Basis Taxpayers

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Experts Opinions

Gift to huf


Whether gift from relative of karta to HUF above 50 000 are exempt under income tax act

Small business under huf


Hi I have a HUF with my wife and minor daughter PAN is also there We have started a small home based business of re selling dry fruits we purchase it in bulk and sell it in small packets how do i show the HUF income and maintain accounts as the business is mainly in cash

Huf


Mother of karta of huf has given Rs 3 lacs in cash as gift to HUF Is it allowed and whether it is exempt under income tax

Huf account


sir please tell me how many members can open HUF Account together

Gift to huf


Can relative of karta of HUF gift in cash to HUF Also whether the amount given is exempt

Discussion

Huf - pradhan mantri pension yojana

Hello My Father is interested in investing in Pradhan Mantri pension Yojna not as individual but under HUF where he is the Karta for HUF Can he put money under this scheme taking this route and if yes what are the tax implications If suppose above is not an option and invest it as an individual can

Format of affidavit to be attached to chg 8

DEAR ALLPLEASE PROVIDE THE FORMAT OF AFFIDAVIT ATTACHED WITH e FORM CHG 8 FOR Rectification of charge THANX IN ADVANCE

Transfer of immovable property from huf to its member

We have two Immovable property in my Fathers HUF name we have following members in our HUF Father Mother Eleder Brother married with two children and Me married with one child we are a happy joint family with NO dispute For the purpose of Mortgage with Bank and Banking limits for our business we wan

Transfer of immovable property from huf to its member

We have two Immovable property in my Fathers HUF name we have following members in our HUF Father Mother Eleder Brother married with two children and Me married with one child we are a happy joint family with NO dispute For the purpose of Mortgage with Bank and Banking limits for our business we wan

Documents for huf registration

What are documents required to registered HUF Please also help on HUF gift deed how capital can be infused in HUF Thanks in advance

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File Download

  • Income Tax Calculator FY 2016-17 AY 2017-18

    Calculates Income Tax For FY 2016 17 AY 2017 18 For Individuals HUF Firms And Companies in a very easy and friendly manner The size of this updated excel utility is just 15 KB This is only a Tax Calculator and it does not compute your Taxable Income In case of any queries or feedback please email me at ca prakashdugar gmail com
  • Format of affidavit required for MahaRERA Registration

    Format of affidavit required for MahaRERA Registration Form B Affidavit cum Declaration
  • Income Tax Calculator FY 2017-18 AY 2018-19

    Calculates Income Tax For FY 2017 18 AY 2018 19 For Individuals HUF Firms And Companies in a very easy and friendly manner The size of this excel utility is just 15 KB This is only a Tax Calculator and it does not compute your Taxable Income In case of any queries or feedback please email me at pcdugar gmail com
  • IT Interest Calculator FY 2016-17 AY 2017-18

    Calculates Interest u s 234A 234B and 234C for FY 2016 17 AY 2017 18 for Individuals HUF Firms And Companies in a very easy and simple manner The size of this Excel Utility is just 17 KB In case of any queries or feedback please email me at pcdugar gmail com
  • STK-4 Word Format

    AFFIDAVIT IN FORM STK 4 TO BE ATTACHED ALONG WITH FORM STK 2

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Articles

HUF Taxation and fundings


SOURCES OF FUNDS Explanation Any gifts in cash or in kind received by a HUF from their members are tax free Also gift received by any person from any relatives is tax free Hence a member can receive any gift from their relatives and subsequently may gift the same to their HUF Any gifts in cash or in


Section 56(2)(vii): Gifts Received by Individual and HUF


Analysis of TAXATION OF GIFTS Crux Section 56 2 vii Gifts Received by Individual and HUF 1 This section is applicable only when gifts are received by individual and HUF As per the Income Tax Act receiver of gifts is taxed Donor is not taxed under this section 2 Gifts can be in cash or kind Money giv


What is HUF ?


An HUF is a separate entity that can be created by members of a family wherein the members are lineal ascendants or descendants Hindus Buddhists Jains and Sikhs can open HUFs A single person cannot create an HUF Usually the senior most member of the family is considered thekarta the person who manag


Assessment of HUF with perspective of important & recent cases


Hindu Undivided Family HUF A fresh perspective with important recent case laws Background U s 4 of the Income Tax Act 1961 income tax is payable by every person U s 2 31 Person is defined to include a Hindu Undivided Family HUF Section 3 of the Wealth Tax Act 1957 also indicates that wealth is charg


How to reduce tax liability through HUF?


How to reduce tax liability through HUF In this article we will discuss how to reduce the Tax Liability using HUF As it is a separate legal entity in the eyes of Income Tax Act Formation of a HUF Typically a HUF is automatically created As the name suggests a HUF means a family of Hindus However und


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Updated on : 10/18/2017 12:33:09 AM



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