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Question ID : 40759

542430

A Hindu Family is comprising of Father, Mother, Son, Daughter and Wife of Son (i.e. Daughter in Law). Son wishes to make an HUF consisting of only himself and his wife. Also, there is no other HUF existing as on date in respect of such family and there is no partition of the family. Query1- Can Son make an HUF consisting of himself and his wife? Query2- Whether proposed HUF has to receive some gift from the family members? Query3- What are the other conditions to make the HUF of Son and Wife?

Posted by ARJUN GUPTA on Aug 05, 2020

Filed Under DIRECT TAXES

Answer ID : 81288

1. Yes he can form HUF 2. No proposed HUF need not receive gift 3. An affidavit for farming HUF and if HUF formation for income tax planning, in such case apply for PAN

Posted by Hari Beldona on Aug 30, 2021