01 November 2009
There are two options one if you have any ancestroal property may be jewellery also is ok and it should have been reflected in your parents file if they are assessee. Sell some 25000 worth of jewellery and receive the bill from the vendor who is purchasing it and that becomes corpus for the new huf. Husband and wife and children.
If no ancestroal property is there then on the date of marriage you should collect letters from friends that they are gifting you 1500 or 2000 and in their letter they should state that it should be utilised for your future family kith and kin and that becomes a corpus of the huf.
Based on this you have to build up the file and can get pan and assessement will be done by assessing offficer based on your doucments.
If you require any other details or to form huf you can mail me at sahanaseena@gmnail com or contact me at 9945182240
I have declaration (on plain paper) from parants that they are giving me Rs. 50,000 cash as gift for my family. Can I open an account by depositing this 50,000. and than apply for PAN. Is this OK Best Regards Inder
01 November 2009
You cannot form a HUF. It is not like a company or a firm. HUF is Hindu Undivided Family, wherein the business should be carried on by a join family.
while appliying for PAN apart from the above declaration give complete details of your address including telephone/ email address and submitt the same to an TIN FC PAN CENTER , they will charge RS. 67/- for the same. Sometime they will ask for identity and address proof too for HUF , in that case it will in the name of Karta only.
Take A paper & make declaration as
DECLARATION I Xyz-----S/o------aged ABOUT-----R/O-----DO HEREBY DECLARE THAT THE hUF IN NAME OF "--------------" CREATED W.E.F.DT:------- & THE FOLLOWING MEMBERS ARE THE hUF.
MEMBERS OF HUF: 1. kARTA 2. MEMBER 3. MEMBER 4. MEMEBER 5. MEEMBER
PLACE: Date; signed by For---------HUF
karta.
Then attach this copy along with your address proof then apply in 49A. Then you will be allotted PAN by the Income Tax department.
Thanks for ur answer. Is the following declaraion is ok ==================================
DECLARATION
I, ____________________________ son Of ___________________________________ Residing at ____________________________________________ aged ___Adult do hereby declare-
1. That I am Karta of ____________________________________________
2. That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEAUE from my FATHER ________________________________(name of relative of karta of HUF) on dt. _______________ this formed the corpus of the HUF.
3. That the HUF at present is consisting of the followings members-
I) Shri _____________________, Adult, Residing at _________________ II) Smt. _____________________, Adult, Residing at _________________ III) Kumari _________________-Minor, Residing at ___________________
4. That the above statements are true to the best of my knowledge & belief. Declare this on _________________
CAclubindia
