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WHAT is HUF can any one tell me..... in layman's example also I want pls........
Answers (7)
CA Suraj Lakhotia Admin
HUF - Hindu Undivided family. A family recognized as an entity under law.
ok sir as per your answer can i tell example for that * one family was doing the banana business starts from 3 rd generation upto now also doing that business this is example for HUF sir wrong means rectify me sir TQ.......................................
CA Suraj Lakhotia Admin
You need to register as HUF
as per my example that banana business is registered means then it is huf am i right sir
Thread Starter
Bala Chandarwhere we need to register sir
prepare a deed on stamp paper declaring the formation of the HUF with all the details, including the name of karta, co-parceners , address and source of funds in the corpus. Once the declaration deed is made, the karta should apply for a permanent account number (PAN) for the HUF.
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