HUF

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Sanjay Kumar Agarwal (Querist)
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18 March 2009 One of my clients both son has formed their respective HUF. Now the client want his HUF File, who would be the members then, can he form a HUF under such circumstances.

regards,
Sanjay

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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18 March 2009 Yes he can form . Under income tax act it is called as Bigger Huf.The memebers will be father, mother, son, son's wife, son's childern. The sons huf seperately will be called as smaller huf.

Sanjay Kumar Agarwal

Sanjay Kumar Agarwal (Querist)
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18 March 2009 Thanks for ur promt reply. Myself is also in practice for last 13 years. My area of practice is basically Audit, Co Law, Project Finance - however ours is a P/Firm comprising of 7 Partners.

Rgds,
CA. Sanjay Agarwal
B.Sc., FCS, FCA, CPA(USA)

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