Huf

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Rupesh Soni (Querist)
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28 February 2014 how to create Huf ?? is require to create a Deed for PAN CARD ? provide a format of huf deed? Is member gift to huf 200000 n huf invest it in fdr ..int is clubbed in membr income ??or in huf?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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28 February 2014 To create a HUF you require nexus with your Ancestral properties but if you do not have then either your parents should gift to your HUF or any other blood relation should given a gift by executing Gift deed and with that you should open a Bank account to procure PAN Card.

You should not give gift to your HUF. If you do so then it is called throwing the self acquired property in the hotch potch of HUF and it has got different treat;ment.

You can do business from the gifted amount to file IT Return