Huf
This query is : Resolved
01 June 2012
PLS TELL US WHAT IS HUF, CAN WE CHANGE A PROPERITORSHIP INTO HUF
PLS PROVIDE THE PROCESS
PLS PROVIDE THE PROCESS
01 June 2012
Sir,
HUF is Hindu Undivided Family.
You must be aware that Properitor/Individual and HUF are both seperate identity as per Income TAx Act.
Per my view Properietorship can not be converted in HUF as HUF consist of Karta(main member) and its blood relation family memebers.
Regarding Process of Registration of HUF,
ITs is simple you just have to apply for PAN of HUF in prescribed format.
HUF DEED shouuld be prepared though it is not in much practice.
Should you desire any clerification feel free to ask.
HUF is Hindu Undivided Family.
You must be aware that Properitor/Individual and HUF are both seperate identity as per Income TAx Act.
Per my view Properietorship can not be converted in HUF as HUF consist of Karta(main member) and its blood relation family memebers.
Regarding Process of Registration of HUF,
ITs is simple you just have to apply for PAN of HUF in prescribed format.
HUF DEED shouuld be prepared though it is not in much practice.
Should you desire any clerification feel free to ask.
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