creation of HUF & HUF Deed Format

[HImanshu Singh]

Respected Experts, please resolve my following queries:

1. A person was married in 2014 and during the marriage gift of ₹ 3 Lakh was Received during the marriage and when a baby was born after 2 years at that time gift of ₹ 50000 during that time, while forming the HUF how to declare that in HUF Deed which is required for applying PAN of HUF?

2. will it be possible to Receive the Gift from Parents and other relatives while making HUF deed along with the declaration of the Amount received during the Marriage and birth of Baby??

3. How to make HUF deed in above circumstances reflecting the above situations, please provide a suitable format which may cover above situations.


Thanking You.

[DR.MARIAPPAN GOVINDARAJAN]

You have to consult the consultant in this regard.

[Ganeshan Kalyani]

Yes it is better to approach consultant because all criteria to be taken into consideration before giving opinion.

AI Summary

HUF deed: declare prior personal gifts and verify admissibility of parental or relative gifts before including them in HUF. Queries concern formation of an HUF and drafting an HUF deed to reflect personal gifts received by a spouse (during marriage and after childbirth) and whether gifts from parents or relatives can be included; respondents advise consulting a tax/legal consultant to determine admissibility and appropriate declaration for PAN and deed purposes.