HUF A TAX PLANNING TOOL

Tax Planning Course: taxplanningfor...
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. HUF (Hindu Undivided Family) is an important concept from point of view of Income Tax. This video is a brief discussion on the concept covering various important questions like:
What is HUF ?
How to Create a HUF ?
How to Save Tax with HUF ?
Can HUF receive Gifts ?
Tax Benefits thru HUF ?
HUF and Income Tax Planning ?
Partition of HUF ?
Who can be Karta in HUF ?
HUF and Tax Planning ?
There may be some queries remaining still unanswered you may write to us in comment portion we will try to respond.
#Huf
#TaxPlanningThruHuf
#Huf&IncomeTax
#TaxSavingAndHuf
#CaAnoopBhatia

[@jagdishdhanuka8628]

धन्यवाद सर आप बहुत सरल एवम अच्छे तरीके से समझाते हो. 🙏🙏🙏🙏

[@CAAnoopBhatia]

Welcome.

[@eternalbliss6131]

Very much impressed with your pattern to guide . Regards

[@CAAnoopBhatia]

Many thanks!

[@gauravaggarwal658]

Heads of you Sir. Apne jau HUF explained kiya hai., this is out of the box, Nice thanks for clarification

[@CAAnoopBhatia]

Thanks and welcome

[@advvinaytripathi8010]

Saving account transaction business ke liye use kiya ja sakta hai non gst ragistration

[@piyushchande5942]

Sir , Explained very well, in Lucid manner...... My Q , Member of HUF (Not Coparcener) can't demand partition , but say if in case of Complete partition of HUF , that Member can claim reasonable amount , as stated in Ur Chart, what is that reasonable amount ???...... Or if say , Member don't wish any Share from partition, then ???? Pls also Share ratio of distribution in case of Son/Daughter , and Son's Son , Daughter's Son......

[@caankitsomani4960]

Beautifully explained in v v v lucid language.... Hats off boss....🙏 U r an amazing mentor ❤️

[@CAAnoopBhatia]

Thanks Ankit bhai.

[@chataurikatori9147]

Amount withdrawal by a Karta/Member of HUF from HUF Capital Account can use the same amount as addition to capital of other business run as a proprietor.

[@casitaramagarwal3215]

Very nice👍

[@amit-zj5oh]

Fantastic lecture, u made it so easy to understand ,covering almost all issues for normal persons who r neither students or ca s .thank u again fr sharing the knowledge.

[@CAAnoopBhatia]

Thanks for kind appreciation.

[@braveheart4388]

🙏🙏🙏. Beautiful explanation. A small query : 1. If I transfer 10L from my saving account to HUF account and HUF starts a business and earns 5L in a FY then how much of that 5L is taxable under my account as per clubbing provisions and how much under HUF account? 2. On the second FY if the HUF earns 5L more as profit will that also be taxable under my account and if yes for how many FY will this continue? Regards.

[@mohitgangele5528]

Very good morning 🌄 sir Thanks for sharing

[@CAAnoopBhatia]

Most welcome

[@mohitparikh4455]

Very nice and simple to understand sir.

[@CAAnoopBhatia]

Thanks Mohit ji for kind appreciation.

[@vijaypimparkar9954]

Hello Thanks you have covered most of the things.... please explain below.... 1. If I transferred my equity to HUF demat how will be the tax liabilities wrt STCG / LTCG ? 2.Should I claim rental income of house in my name as HUF income or this needs to be transferred 1st.

[@shubhamjain3712]

It was really amazing, making it really easy gave us a complete understading...............l

[@CAAnoopBhatia]

Thanks Shubham :)

[@parijatbadala3075]

Good job sir well explained .

[@love881ful]

Hi Sir, Thank you for the wonderful knowledge sharing. Really appreciated. I have a question: - Should we need to add Daugher-In-Low and Grand-Daughter in deed? - Can a co-parceners (Karta's Son) create their own HUF in case he is already part of Dad's HUF? Thanks in Advance for all the information :)

[@prateekkanoongo6184]

Good & Informative video 👍👍

[@CAAnoopBhatia]

Thanks Prateek ji.

[@govindmundada2404]

Very Easy To Understand 👌👍👍

[@CAAnoopBhatia]

Thanks Govind ji.

[@sureshgupta4115]

Sir, very well explained thank you.

[@CAAnoopBhatia]

Welcome.

[@naveensaini1928]

Sir please make more such videos. Very informative

[@CAAnoopBhatia]

Thanks Naveen bhai. I will try.

[@saidasanish]

Jai sairam....Babamalik Sir kya in me kuch member ko nahi bhi liya ja sakta hai creat ke time....e,g 2 brother and 2 sister hai hai to unme se do 2 brother and mata pita milkar huf bana sakte hai?

[@rajeshrkale]

Annop Sir ji, Pranaam. I have created a HUF since have got ancestral agri land of forefathers. HUF is submitting return since last 17 years & have accumalated some stock & mutual funds. Now coming to the point myself as individual (karta of abovesaid HUF) & my wife as member of the HUF intend to gift some of equity shares to HUF. My question is What will be the tax implication of the dividend income received against that transferred shares, whether it will be payable by HUF or individual?? & Capital Gains tax if sold in future.

[@Lamp141]

Can school tution fees will be considered for IT exemption under 80C for HUF, if I pay the school tuition fee of my kids who are HUF members through the HUF savings account?

[@fcsramkumarbhargav2285]

You are Great.. Sir

[@CAAnoopBhatia]

Thanks :)

[@recreate124]

Wonderful video sir 🙏

[@vishwajeetmishra9210]

Ca oc training me aap aye the maza aya tha...indore branch

[@CAAnoopBhatia]

Thanks for remebering.

[@vishwajeetmishra9210]

@@CAAnoopBhatia yessss🙏

[@roshanjeenwal9039]

Detailed explanation sir ji. I'm a Govt. Employee sir Can I transfer some amount of money in HUF acc. from salary .

[@CAAnoopBhatia]

You may transfer but conceptually income earned by HUF on such amount should come back to your hands for taxation

[@sudhanwapande4728]

Very much detailed information 👍 Thank You Sir ❤️

[@CAAnoopBhatia]

Most welcome and thanks.

[@shishirpandey10]

Great information sir

[@CAAnoopBhatia]

Thanks :)

[@rajeevgupta7857]

Namaste Will the maintenance given to the members of huf or the the family expenditures be treated as an expense.

[@CAAnoopBhatia]

Prima facie no.

[@Darkmetahuman1411]

Thank You for the wonderful sharing. I have certainly queries can you please resolve. 1. The Deed is to be prepared on a Stamp Paper if yes then what value? Also is it required to get affidavit done of the deed. 2. When you say members can gift which is non taxable. So can my Father, Mother and Brother Gift to my HUF without it being taxed to the HUF? 3. Can Commission and brokerage be taken as income in HUF? 4. Can a property be bought by taking loans from Family?

[@CAAnoopBhatia]

The answers are as such: 1. Deed stamp paper value may differ from state to state, please refer your state law stamp duty rates. 2. Gifts from father, mother, brother etc. to your HUF would be taxable for HUF 3. Commission / brokerage is usually not suggested as HUF income. 4. Propety may be bought no issues as such.

[@revtiramandewangan8593]

Sir kya mai huf ke demat account me salary se monthly fund tranfer kar trading kar sakta hu

[@umashankartiwari1598]

Excellent explanation sir.

[@CAAnoopBhatia]

Thanks and welcome

[@NitinChidarMBA]

Thank you for creating such-informative video. Though I have few questions to cross check if my understanding is correct, it would be really helpful if you may answer them (Even “yes/no” will be enough) I am part of my fathers HUF, but now I want to create my own HUF (me/my wife/ kid) for tax saving : 1. If I transfer 1,50,000 into my HUF account and invest in PPF from HUF account - I will not incur tax since HUF income will be tax free ? 2. If my friend gift me 2.5 Lac - I will not incur any tax because of income tax limit ? 3. Can my father/mother/brother gift me Rs 2.5 lac instead of friend ? Without attracting clubbing of tax provision ? 4. If 10 of my friend gift me 50000 each, will I incur any tax ? Thanks for your help.

[@vivk5684]

well explained.

[@ashishkunwar5803]

Thanks a lot. 🙏🙏🙏🙏 God bless u sir. 💟💟💟💟

[@CAAnoopBhatia]

Thanks Ashish ji for kind appreciation and blessings.

[@amitkhadaria1730]

After death of karta kya huf ka karta change hota hai ya phir huf close hota hai

[@shishirpandey10]

Kya HUF create karne se ceiling act 1960 se surplus land save kar sakte hai?

[@CAAnoopBhatia]

Pls consult with a lawyer for precise understanding and answer.

[@sureshkakilati180]

Hi, Can you please answer if HUF can pay for the family maintenance like rent and daily bills and remove that from the HUF income?

[@CAAnoopBhatia]

Yes HUF may pay for the benefit of family yet deduction for such expenses may not be allowed.

[@pragneshpatel7802]

Sir huf me g pay se payment le sakte hai

[@born2enjoy]

sir agr karta HUF mai funding krta hai to kay karta ko us fund pr tax benefit melta hai kya

[@SumitSrivastava]

Great. Thanks for the shared informations. Just have a query. If we are two brothers. I am the younger one and I have a elder brother. we have our father as well and he is live. We all are living separately. Now if I want to form a huf in my name, can I form the same? Can I become karta for my huf? Pls guide.

[@CAAnoopBhatia]

If you are married you may form a HUF by applying for a PAN.

[@anilmirani707]

Sir agar kisi person ki marrige 2015 me hui he or huf ka pan card 2022 me banaya he 2023 k return me opening capital dekha sakte he?

[@praveenkashyap5852]

Can we show dividend income credited in my bank account from shares on my dmat account?

[@CAAnoopBhatia]

Yes dividend should be shown as other source income.

[@mohammedghouse9880]

Good Evening You are excellent Sir

[@CAAnoopBhatia]

Thanks :)

[@utsabbanerjee9672]

If my wife and I form huf and have some capital gain under the huf pan, will it be taxed under huf even if we don't have any children?

[@devashishsharma2305]

Nice information sir

[@CAAnoopBhatia]

Thanks and welcome Devashish bhai.

[@manas19781]

very well explained

[@CAAnoopBhatia]

Thanks for liking

[@129prashant]

After watching full video and reading reply to comments I have developed understanding that 1: every year transfer rs 250000 to huf from your income and file itr. 2. Next year that amount will become asset of huf. 3. Keep repeating the step 1 and 2 to create corpus then start further investing it to get income from huf. Please reply if I got the right understanding or not.🙏 One question can a huf contribute towards PPF of minor members and take exemption under 80c.

[@CAAnoopBhatia]

Please take care of following: 1. you should not receive gift from members 2. income on preceding years gift along with current year gift will form total income for the current AY. 3. In my opinion HUF can contribute to the minor members ppf to claim 80C deduction.

[@129prashant]

@@CAAnoopBhatia🙏 Thank sir. You are giving very valuable knowledge for free👍. One question if member do deposit some funds in huf but do not invest it , in that f.y so, huf wouldn't be generating any income. Aur agle f.y. mein usse invest karde chahe fd, NCD, mutual fund or securities to make income belongs to huf. Is that right way to accumulate wealth in huf?🙏

[@db7683]

@@129prashant Bhatia sir plz reply to this...i have same query..

[@db7683]

@@CAAnoopBhatia sir plz reply to prashant kumar' s query...i have same query

[@vnytak9223]

Very informative video ...its all about HUF....I have one question that I had a baby after 3 years of my HUF created date..so now how can I add my new born baby in my HUF

[@CAAnoopBhatia]

The baby is already added by birth, no need to have a seperate addition.

[@anilsangeeta1]

personal asests rent can be taken as huf ?

[@CAAnoopBhatia]

Prima facie no.

[@AmanKumar-ix2el]

Thankyou sir ❤❤❤❤

[@CAAnoopBhatia]

Welcome.

[@musicalsur4192]

Thankyou so much sir 🤗..covered almost all related tax aspects..👌

[@CAAnoopBhatia]

Thanks Sir.

[@anuamit2005]

@@CAAnoopBhatia sir, you are doing great work. I have HUF related question. My father expired in year 2002 and i am filling his HUF return since then. I am showing rent from shops as income. This property is ancestral in the name of my grandfather and his brother. But recently 2 years ago, ownership transferred to my mother. I am married. Can i continue to show this rental income in huf return or it should treat as income of my mother? Plz guide. My mail id is [e-mail]

[@ankurchhabra4233]

Thank you sir, keep up the good work

[@CAAnoopBhatia]

Thanks, will do!

[@AnandSinghNegi09]

Nicely explined sir

[@CAAnoopBhatia]

Thanks and welcome

[@sanjeevkalsoor6216]

Sir, thanks for a very informative video. How much gift can a karta give to HUF in a year without any tax liability. Thanks 🙏

[@CAAnoopBhatia]

Karta may give any amount of gift however please note if Karta gives gift to HUF then clubbing provisions shall attract.

[@gulapagarwalla3792]

Explained beautifully

[@CAAnoopBhatia]

Thanks a lot 😊

[@dixit768]

Hello sir I have a question There is a father's immovable property which is generating rental income, after the death of both of the parents. The son is receiving property, daughter don't wants to claim any right in that property. The son what's to create his own HUF with his wife and children & wants to recieve the parents property directly into that HUF. There is no WILL made by the parents. Is this trf exempt in the hands of HUF as it's inheritance property or it will be taxable (as parents where not member of his son's HUF)? And whether clubbing provision will be applicable? Thanking you in advance.

[@CAAnoopBhatia]

In my opinion the relevant property will be treated to be individual property of son and daughter. Yet daughter may relinquish share in favor of her brother but still it's not a HUF property. However, if still son transfers the property to HUF then clubbing provisions shall apply.

[@advork]

Thanks sir, sir TDS Penalty, Correction par koi please video banayiye....

[@CAAnoopBhatia]

OK Ravi bhai I will try.

[@arunbhatt7960]

Informative video.... What about difference between specified HUF n unspecified HUF.. could you please explain in your next video... Income of HUF first deposited in RD account ,made in the name of individual members and then handed over to them on monthly basis for their house hold maintenance exp...some members spent whole money ,some members saved money and accumulated as capital,,,,,,this will be the capital of member in individual capacity or this kind of capital will be treated capital of that members Smaller HUF. distributed amongst members

[@arunbhatt7960]

My e mail I'd is... [e-mail]

[@CAAnoopBhatia]

Sir as on date there is no difference between the specified HUF and non-specified HUF from Income Tax point of view. Distribution of HUF's income amongst the members is exempt in the hands of receipient member. However, if member earn from such income share then it will be taxable in their personal hands only.

[@arunbhatt7960]

@@CAAnoopBhatia Dear Anoop, good morning... My query is,,, Father's HUF's income shared between father, son, daughter n wife on monthly basis... As son is married having one son,and salaried employee... His monthly expenses met from salary n receipt from HUF on monthly basis accumulated and deposited in Bank , getting Interest ,,, such interest can be treated as son's HUF consisting of son, son's wife and son's son. Son's HUF already in existence n taxable entity...,, Will appreciate your advise.. regards n thanks

[@bharatkachhadia8117]

Very useful explanation

[@CAAnoopBhatia]

Thanks Bharat ji.

[@SanjaySharma-dq9ul]

Good Information shared by you sir. Almost all information covered. Really refresh my knowledge on HUF. Keep sharing all information. Thank you.

[@CAAnoopBhatia]

Thanks Sanjay ji.... I will keep on trying.

[@keshavanandbhagat1247]

Mujhe IPO listing purpose ke liye apne papa ka HUF banana hai , mai unmarried hu , mere papa govenrment employ hai isliye mai hi karta ban jau soch raha hu , suggest me what should i do and how to ?

[@yashdua3799]

Thank u so much for sharing such important information. Sir, I am a senior citizen aged 70 years. If I open a HUF account and in this my son (who is married) is a co-spencer, whether son can open separate HUF account?

[@CAAnoopBhatia]

Yes Sir such account may be operated by your son even.

[@anusuyameher6221]

Sir, can huf take business loan in the name of huf ? What about the consent of present minor members of the family and upcoming new born babies share in the assets? Whether court order is necessary for hypothecation of assets created out of bank finance ?

[@anusuyameher6221]

Sir when huf deed is not there how to ascertain when the huf was created initially . Sir Please reply

[@tushargoyal588]

Thanks for sharing great information. Quick Question - If I'm already a salaried individual/self employed, can I create take my other profession freelancing income under HUF to save tax? Please guide.

[@CAAnoopBhatia]

Professional freelancing income should not be offered as HUF income in my opinion, yet you may consult with your CA.

[@ayushpathak8991]

As per my understanding HUF cannot undertake any preofession, it can only carry out business and renting activities

[@gapsum143]

Sir, one question please. My father has HUF but he died in year 2002. i am continuously filing IT return as a Karta since then. There is no written agreement of huf. Now I want to open my own HUF. I have wife and children. Can i do this? Can my mother become Karta of my father's huf? Or I can be karta of both huf?

[@jagdishdhanuka8628]

Succession और HUF के नियम की विस्तृत जानकारी दीजिये 🙏🙏

[@kushalpatel8658]

where can we use HUF account money ?

[@manusood3897]

An karta and members contribute capital to HUF for example transferring 10 lakhs. I am asking this question is this is not a gift or loan or ancestral property?

[@CAAnoopBhatia]

It's by default assumed as gift or throwing individual asset into common hotch potch of HUF with the purpose of treating it HUF asset. It's not taxable in the hands of HUF.

[@saileeshah]

Sir The karta is introducing capital to huf in form of loan with reasonable interest. Huf makes investments from given loan and earns income . Income from investment is clubbed in hands of karta or treated as huf income ?

[@CAAnoopBhatia]

In such case only interest income should be taxable in the hands of karta.

[@saileeshah]

Thankyou sir. Only interest income on loan taxed in hands of karta. Capital gains from investments taxable in hands of huf , right ?

[@divyaalok5538]

Awesome Inc

[@CAAnoopBhatia]

Thanks.

[@ShivanandShindhe]

Can Government employees can create HUF and show Business Incoome

[@CAAnoopBhatia]

Govt. employee may create a HUF but whether business under it may be a question to be answered with respect to the service rules.

[@hemantkothari3406]

Thank you Sir... Meri doubt Hai... Huf ki income Kya Kya ho sakti Hai... N source of income Kya hoti Hai.... Apart from interest income..,

[@CAAnoopBhatia]

It can be rental income, business income, capital gain income, divident income etc. The source is either ancestoral property or a gift to HUF or from the activities of HUF even.

[@BBO-pf6pc]

Hi Anoop Bhatia Sir, If HUF Member transfers Rs 10 lacs money to HUF and then HUF Buys Sovereign Gold Bonds with 1 year expiry from secondary market. 2.5% interest will be taxable as HUF Member's income for just 1 year (till expiry), but will total SGB on maturity (Rs 10 lacs + Capital gain) will it be tax free in hands of HUF and HUF can then keep the money as HUF Corpus? Look forward to your expert advice please

[@CAAnoopBhatia]

In such case the interest as well as capital gain both should be clubbed in the hands of member.

[@YugJain-cr8ck]

Kya sir 2.5 lakh ki limit sirf karta ko milegi ya co parcener ko bhi milegi?

[@VMP-yb7wo]

huf ko

[@rishibhargava6831]

Thanks for sharing the Information . Sir need your guidance Can a person transfer funds from his savings account directly into the HUF Saving Account if that person is the Karta of that HUF? & if Yes then up-to what limit In an Financial Year ? Please Help Thanks in advance.

[@CAAnoopBhatia]

No limit on transfer of your personal funds to HUF but if it's a gift to HUF income from such gift in the hands of HUF shall be subject to clubbing hence such transactions should be avoided.

[@rahulpatil3309]

whether Agriculture Income of HUF is Taxable in the Hands of KARTA

[@CAAnoopBhatia]

No

[@rahulpatil3309]

@@CAAnoopBhatia thanx

[@vineetsharma5768]

Am I eligible to open a demat account for my HUF with zerodha and start investing to mutual fund and shares? Currently my HUF only has 2 members me as karta and my wife as member and we do not have a child. So my question is Am I eligible to open demat account for my HUF and can i start investing?

[@balasahebghadge7127]

छान छान

[@manas19781]

As a Karta can i give loan to HUF ? if HUF get this loan and if same amount is used for trading by Katra using HUF , then who will get the resultant income ?

[@CAAnoopBhatia]

Loan may be given, if it's a loan income will be that of HUF.

[@manas19781]

@@CAAnoopBhatia sir , will HUF be able to deduct that interest paid to karta from its business income ?

[@bishtpramod8820]

Sir, kya me apne income se every month kuch gift HUF me de Sakta hu? Uske liye koi formality he ya just transfer karna he

[@CAAnoopBhatia]

You may give gift to HUF but in such case income derived by HUF from gifted money will be taxable in your hands.

[@jagdishdhanuka8628]

Sir 🙏🙏 kya yek individual member khud ke hi HUF member ko gift de sakta hai kya? Aur uska limit kitna hai?

[@CAAnoopBhatia]

Yes gift may be given but this will attract clubbing.

[@vivekebox]

Very useful video sir. i have few questions: 1. Is HUF applicable for new tax law 2. Can i pay X amount from my salary to HUF and HUF pay to my Wife : Every Month ( is this salary or some thing else: i dont know) This X amount can be cut from my Salary so that Taxable amount is reduced. My Wife dont pay income tax so she can go upto 2.5Lakhs

[@CAAnoopBhatia]

HUF may avail new slab rate, salary to a member of HUF should be paid when such person is contributing to the conduct of business of HUF otherwise not. Rest pls consult with your CA.

[@anuamit2005]

Bhatia ji, if I received Rs 5 lakh in my HUF from my father's HUF then under which head, it will show as income in my HUF?

[@CAAnoopBhatia]

It should be offered as income from other source.

[@anupambirla3750]

Sir, Really you have beautifully explained the concept of HUF. But, I have one question in mind that if both parents (father & mother) of TWO unmarried Siblings (a brother and a sister) have suddenly demised intestate. Both deceased parents were not having any HUF. So, I just wish to know whether these unmarried Siblings can form HUF regarding their parents' property / other assets / bank savings etc. OR their son has to wait for forming HUF till he gets married.

[@CAAnoopBhatia]

My prima facie opinion is that such estate is personal estate of siblings and not HUF asset.

[@sidharthpradhan7602]

Initial capital of HUF is taxable?

[@CAAnoopBhatia]

It depends upon the source.

[@anshulagrawal7501]

Very informative video! Had one query though, do I need to prepare proof (Gift Deed/affidavit) for gifts received from members? What if the gifts are cash transfers via electronic modes (NEFT/IMPS), is this even allowed and if yes, what is the taxability?

[@CAAnoopBhatia]

Preparing proof is a welcome step to face any future enquiry.

[@bishtpramod8820]

@@CAAnoopBhatia sir after cash transfer via electronic means and If this amount HUF do FD then. Interest income of FD is taxable to HUF or to me.

[@hareshpatel1467]

@@bishtpramod8820 sir i think if you do FD for HUF then you will use HUF PAN card, then intrest income of that fd is income of HUF and not yours

[@Kartikeyragv]

@Anshul kindly tell us that have you prepared gift deed or online record (NEFT/IMPS) was sufficient?

[@banibratachatterjee8340]

Sir will implications of Mitakshra and Dayabhaga law school come into picture upon creating HUF ? PS- I'm a Bengali Hindu by birth.

[@jagjitsinghsodhi276]

I have 2 rental properties. 1 is registered in my name and the other is in my Wife's name. This is not ancestral property. Can I take rent in the HUF account

[@CAAnoopBhatia]

Taking rent in name of HUF may not be suggested.

[@anilpundale]

Please give information how to close HUF

[@CAAnoopBhatia]

There should be a partition deed you may contact a nearby CA who may guide you better.

[@rajendrakumarpatwari5072]

Well explained sir my question is Iwant to apply for huf Pan number is it necessary to add my married daughter or it is Optional 2 is it necessary to nottery the affidavit please advise Thank you

[@CAAnoopBhatia]

In my opinion it's necessary to add your married daughter.

[@satishdholwani3297]

A person creates a HUF and transfers an immovable property which earns rental income and such transfer has been done by way of Gift so income will be clubbed in the hands of individual. Suppose if such transfer was by way of adequate consideration still clubbing provisions will attract ?

[@CAAnoopBhatia]

If transfer is by way of adequate consideration no clubbing to attract.

[@MegaSaphiroth]

Thank you sir for such a lucid lecture on HUF . I have a question can huf of son receive a gift from his mother of say immovable property without attracting tax

[@CAAnoopBhatia]

Thanks for kind appreciation. If mother gives immovable property to her son's HUF it will be taxable in such HUF's hands.

[@MegaSaphiroth]

Sir , what if the mother gives son a gift and in turn son uses this property to form initial corpus of his HUF and then earn some income from this property what will be the taxability position then thank you in advance

[@ruskip]

Do we have to register huf deed in sub registrar office?

[@CAAnoopBhatia]

Not needed in my opinion.

[@ruskip]

I asked in sbi bank they want it on stamp paper

[@ruskip]

I asked in sbi bank they want it on stamp paper

[@SumitJain_CoverArtist]

Thank you very much sir! Cleared so many doubts. Actually I want to create an HUF for our business which has been existing for 8-9 years. We have our firm's GST no. but the income tax is solely paid by my father. So is it advisable to create an HUF for our firm? We do not have any rental income!

[@CAAnoopBhatia]

HUF of firm is not a right concept yet HUF may run a concern having GST. You should contact with a nearby CA.

[@SumitJain_CoverArtist]

@@CAAnoopBhatia ok sir! Thank you!

[@drsunilrajput8952]

Can cash be deposited in huf

[@CAAnoopBhatia]

Replied in a recent short, pls refer.

[@caharsewaksingh8996]

IS SON IN LAW MEMBER OF HUF ? IF YES HOW FAR THIS DEFINITION OF MEMBER CAN GO ? OR IS IT RESTRICTED TO THE MEMBER LIST DEFINED AT THE TIME OF CREATION OF HUF (FOR HUF PAN CARD) ?

[@vaibhevmittal9546]

Can father gift money to son's HUF ( son, daughter in law and grandson with son as karta) from his saving account?

[@CAAnoopBhatia]

Gift may be given but such gift shall be taxable for son's huf.

[@vaibhevmittal9546]

@@CAAnoopBhatia Thank you for your reply How many times in a financial year can father gift to his son?

[@ashwanikantaggarwal4036]

Can HUF earn commission Income or professional income.

[@CAAnoopBhatia]

In my opinion professional income is not possible however if there is sourcing of business in form of commission income then same may be possible for HUF.

[@brijeshgupta3086]

Can a person be the co-parcener of two HUF....one where he is co parcener and other where he is karta....

[@CAAnoopBhatia]

Yes in my opinion its possible.

[@brijeshgupta3086]

@@CAAnoopBhatia thank u sir...