Comments on: CREATION OF HUF AND FORMAT OF DEED FOR CREATION OF HUF http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/ Thu, 09 Sep 2010 10:32:00 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: sanjay Raghunath http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-709 sanjay Raghunath Tue, 31 Aug 2010 04:59:00 +0000 http://blog.mukeshraj.com/?p=214#comment-709 what we creat a huf firm if i lived in ahmedabad(Gujarat),my big brother live in Gandhidham(Gandhidham and my father live in Ballia(U.P.) what we creat a huf firm if i lived in ahmedabad(Gujarat),my big brother live in Gandhidham(Gandhidham and my father live in Ballia(U.P.)

]]> By: Anonymous http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-676 Anonymous Sat, 14 Aug 2010 06:21:00 +0000 http://blog.mukeshraj.com/?p=214#comment-676 HUF exists by nature as soon there is a karta and a coparcener in the family. So you can create HUF even the wife of the karta died. HUF exists by nature as soon there is a karta and a coparcener in the family. So you can create HUF even the wife of the karta died.

]]> By: Prem http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-675 Prem Sat, 14 Aug 2010 05:55:00 +0000 http://blog.mukeshraj.com/?p=214#comment-675 Sir, Can a HUF be created and started after death of the wife of the karta. Originally there were 3 members in the family i.e. Karta, Wife of Karta & Daughter, however at that point of time HUF was not created. Now the wife of karta has deceased and there are only two people in the family i.e. Father & daughter, can father now create HUF ? Sir,

Can a HUF be created and started after death of the wife of the karta. Originally there were 3 members in the family i.e. Karta, Wife of Karta & Daughter, however at that point of time HUF was not created. Now the wife of karta has deceased and there are only two people in the family i.e. Father & daughter, can father now create HUF ?

]]> By: mukeshrajco http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-602 mukeshrajco Fri, 30 Jul 2010 03:02:26 +0000 http://blog.mukeshraj.com/?p=214#comment-602 If you convert your property into HUF property then as per section 64 of the Income tax Act, income from that property will be clubbed in your income as an individual. So you will get any benefit from that directly. But any income on the income will the income of the HUF, means if deposit this rent in fixed deposit with bank then interest received on such deposit will be the income of HUF If you convert your property into HUF property then as per section 64 of the Income tax Act, income from that property will be clubbed in your income as an individual. So you will get any benefit from that directly. But any income on the income will the income of the HUF, means if deposit this rent in fixed deposit with bank then interest received on such deposit will be the income of HUF

]]> By: mukeshrajco http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-1062 mukeshrajco Fri, 30 Jul 2010 03:02:00 +0000 http://blog.mukeshraj.com/?p=214#comment-1062 If you convert your property into HUF property then as per section 64 of the Income tax Act, income from that property will be clubbed in your income as an individual. So you will get any benefit from that directly. But any income on the income will the income of the HUF, means if deposit this rent in fixed deposit with bank then interest received on such deposit will be the income of HUF If you convert your property into HUF property then as per section 64 of the Income tax Act, income from that property will be clubbed in your income as an individual. So you will get any benefit from that directly. But any income on the income will the income of the HUF, means if deposit this rent in fixed deposit with bank then interest received on such deposit will be the income of HUF

]]> By: Samir Kumar http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-601 Samir Kumar Sat, 24 Jul 2010 15:36:39 +0000 http://blog.mukeshraj.com/?p=214#comment-601 Dear Sir: Would you help me understand if an apartment in my name can be transferred to HUF in which I am the karta and then the HUF can take the rental income which I can provide to HUF? Appreciate your help. Dear Sir: Would you help me understand if an apartment in my name can be transferred to HUF in which I am the karta and then the HUF can take the rental income which I can provide to HUF? Appreciate your help.

]]> By: Samir Kumar http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-1061 Samir Kumar Sat, 24 Jul 2010 15:36:00 +0000 http://blog.mukeshraj.com/?p=214#comment-1061 Dear Sir: Would you help me understand if an apartment in my name can be transferred to HUF in which I am the karta and then the HUF can take the rental income which I can provide to HUF? Appreciate your help. Dear Sir: Would you help me understand if an apartment in my name can be transferred to HUF in which I am the karta and then the HUF can take the rental income which I can provide to HUF? Appreciate your help.

]]> By: hemant gagwani http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-600 hemant gagwani Fri, 09 Jul 2010 02:20:58 +0000 http://blog.mukeshraj.com/?p=214#comment-600 Sir, We r two brothers and three sisters who have inherited an ancestral property. The property was given for development and the sisters shares duly given in cash. the two brothers received o0ne flat each in lieu of the development agreement and cash consideration. The developer has breached certain conditions, like installation of telephone towers, selling of parking spaces, and not giving rent. Since my brother is not interested in pursuing the above matter , will my interests be harmed if he signs the conveyance as the karta of the HUF. Possession of the bldng is given with full O.C and society formed but first meeting still not held. There is no HUF deed done and no HUF account. How should I proceed. The D.A mentions the exixtence of HUF property duly signed by me. How should i proceed. Sir,
We r two brothers and three sisters who have inherited an ancestral property. The property was given for development and the sisters shares duly given in cash. the two brothers received o0ne flat each in lieu of the development agreement and cash consideration. The developer has breached certain conditions, like installation of telephone towers, selling of parking spaces, and not giving rent. Since my brother is not interested in pursuing the above matter , will my interests be harmed if he signs the conveyance as the karta of the HUF. Possession of the bldng is given with full O.C and society formed but first meeting still not held. There is no HUF deed done and no HUF account. How should I proceed. The D.A mentions the exixtence of HUF property duly signed by me. How should i proceed.

]]> By: vaithy http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-599 vaithy Thu, 08 Jul 2010 08:49:25 +0000 http://blog.mukeshraj.com/?p=214#comment-599 Dear Sir, Thanks for your valuable information on HUF. I am a NRI & would like to invest (partly in equity shares and partly in interest bearing loan) in my friend's private limited company. I have 2 minor daughters and a wife. is it advisable to create a HUF and invest through it ??. if yes, please let me know 1.) naming of HUF - is it necessary to be in Karta's name or I can decide on any name. 2.)Apply for PAN - As no registration required for formation of HUF, how do i apply for PAN card 3.) Is it necessary to receive some money from my father to show the corpus/Seed Capital. 4.) Can the Karta transfer properties in his name to HUF later ?? 5.) Is it possible to specify sharing ratio of HUF income and capital between the members of HUF in the HUF deed? Thanks in advance for your kind help. Dear Sir,
Thanks for your valuable information on HUF. I am a NRI & would like to invest (partly in equity shares and partly in interest bearing loan) in my friend’s private limited company. I have 2 minor daughters and a wife. is it advisable to create a HUF and invest through it ??.
if yes, please let me know
1.) naming of HUF – is it necessary to be in Karta’s name or I can decide on any name.
2.)Apply for PAN – As no registration required for formation of HUF, how do i apply for PAN card
3.) Is it necessary to receive some money from my father to show the corpus/Seed Capital.
4.) Can the Karta transfer properties in his name to HUF later ??
5.) Is it possible to specify sharing ratio of HUF income and capital between the members of HUF in the HUF deed?

Thanks in advance for your kind help.

]]> By: ROHIT GARG http://blog.mukeshraj.com/2009/05/10/creation-of-huf-and-format-of-deed-for-creation-of-huf/#comment-598 ROHIT GARG Thu, 10 Jun 2010 13:54:37 +0000 http://blog.mukeshraj.com/?p=214#comment-598 Sir, I need a deed of partion of father's HUF by which creating new HUFs of sons. How we can draft full partion at the same time cration of son's HUFs. Regards! Sir, I need a deed of partion of father’s HUF by which creating new HUFs of sons. How we can draft full partion at the same time cration of son’s HUFs.
Regards!

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