Plz guide me / share views on HUF creation on following situations:-
Situation 1 :- HUF comes into existence on the date of marriage OR on the date of birth of 1st child.
Situation 2 :- Husband [A] dies in 1995 leaving his wife[W], 1 daughter[D], 2 sons[s] behind. A 's father who had already expired had some properties in his name. Now on A's death, his wife W gets some properties on behalf of her husband share. No Pan is applied of A HUF and no ITR is filed of A HUF. All D & S are married now.
Ques 1 :- Is there any existence of A HUF.
Ques 2 :- Can W treat the properties rental income she got as income of A HUF.
Ques 3 :- Can now his wife W, who will be karta after his husband death can apply for PAN now and start filing return of above rental income .
Ques 4 :- is there any circumstances, that rental income be treated as individual income of W or S.
CAclubindia
