About HUF

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Meet Shah (Querist)
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05 April 2017 What should be the source of income to start the HUF ?

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CA MANISH SAXENA (Expert)
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05 April 2017 Hi Meet,
Rental Income is the bets option to start HUF Income.

Thanks
May connect me on manish.saxena@icai.org

Studentsca (Expert)
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05 April 2017 Which rental income you are talking about??

Meet Shah (Querist)
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05 April 2017 But then property for which we are receiving rental income should be in the name of HUF ?

CA MANISH SAXENA (Expert)
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06 April 2017 Hi Meet,
Property can be in the name of KARTA.

Thanks

Meet Shah (Querist)
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06 April 2017 Thanks Manish sir Is there any other source of income to start off with HUF? Like receiving gift from mother or from any other member

CA MANISH SAXENA (Expert)
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06 April 2017 No, receiving gift from mother or from any other member is not suggestible.

Meet Shah (Querist)
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06 April 2017 And as you told that rent income is the best way but what if there is no property for which rent can be received ?

Studentsca (Expert)
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06 April 2017 Don't take gift from any member of the HUF as the gift in itself would be exempt, however clubbing provisions would be applicable.

Meet Shah (Querist)
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06 April 2017 Okey Thanks

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