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Huf

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2013 If I want to create a HUF and invest Rs. X in it, can I show it as my capital contribution to it as Karta of HUF. Is there any legal procedure for the same and whether any document is to be prepared for such contribution to HUF? Will income attract clubbing provision as amount is invested by me only and nobody else?
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Rupesh Jain

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Rupesh Jain (Expert)
12 June 2013 huf cannot creat it is natural entitiy

some body can give gift to HUF

and then you can invenst the amount
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2013 But for tax purposes can i transfer money to new HUF and how? Is any deed required?
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Rupesh Jain

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Rupesh Jain (Expert)
12 June 2013 how can you tfr money
pls take gift only
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Querist : Anonymous

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Querist : Anonymous (Querist)
12 June 2013 Can I gift Rs.X to my new HUF? but then it will attract clubbing provision?
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Rupesh Jain

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Rupesh Jain (Expert)
12 June 2013 it is safely that you take gift from out side your family
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
13 June 2013 An individual ie a member of an huf can gift to huf. Karta can also gift to huf.
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