H.u.f.
manish patel
(Querist) 03 May 2012
This query is : Resolved
HOW TO MADE A H.U.F.? PLEAS GIVE WITH EXAMPLE.
Raj Kumar Makkad
(Expert) 03 May 2012
Purely an academic query which do not require any reply from the experts.
R.K Nanda
(Expert) 03 May 2012
Academic query only.
Suhail A.Siddiqui
(Expert) 03 May 2012
Every Hindu in itself having his HUF since birth. HUF cane be created/ created by taking any amount of gift in the name of particular person's HUF name.
A V Vishal
(Expert) 03 May 2012
An HUF is automatically constituted with the marriage of a person. No formal action is required to create an HUF. The HUF being the result of birth, possession of joint property is only an appendage of the HUF and is not necessary for its constitution. So, one person cannot form an HUF. The HUF property may consist of ancestral property, property allotted on partition, property acquired with the aid of joint family property, separate property of a co-parcener blended with or thrown into a common family pool. The provisions of sec. 64 (2) of the Income Tax Act, 1961 have superseded the principles of Hindu Law, in a case where a co-parcener impresses his property with the character of joint family property.
Shonee Kapoor
(Expert) 06 May 2012
Academic query.
Regards,
Shonee Kapoor
harassed.by.498a@gmail.com
