Respected sir/mam
My query is whether a person and his son having ancestoral agricultural land in their name can form an huf of their family (father being the karta) and transfer such land to that huf so that its income get charged under huf name. Do they need to make any affidavit for the same that respective land is their ancestral property and same shall be treated as huf's ?
Is there any other procedural requirements need to fulfill, so that income is treated as huf's?
CAclubindia
