Question ID :
44849
Creation of HUF
In the year 1997 i had created one HUF with the gift amount of Rs 5,100 from brother in law. I had drafted the Gift Deed on the stamp paper of Rs 2/-.
Today we have to creat one new HUF. Please advise the compliance to be done
Posted by
RAJEEV KUMAR
on
May 07, 2025
Filed Under
MISC.
applying for a PAN in the HUF's name (if not already obtained), opening a dedicated bank account in the name of the HUF, maintaining proper books of accounts for any income or investments, filing Income Tax Returns annually in Form ITR-2 or ITR-3 (as applicable), ensuring that all gifts and income are routed and recorded in the HUF's name, and complying with TDS, GST or other applicable tax laws if the HUF engages in business or earns taxable income.
Posted by
SACHIN KUMAR RAI on
May 12, 2025