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Tax planning

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(Querist)
28 July 2012 My Father has taxable income from salary.
He also earn income from renting of property.
The property is on the name of My Father.

Is it possible to create a HUF??
How it can be created??

i.e. On whose name it can be created??

My grandparents are no more..

Can My father transfer that asset to HUF..??

Then wats the tax effect..
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
28 July 2012 your father can create huf by apply for pan number in the name of huf.
on the basis of pan no. you can filled itr in the name of huf.

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