https://www.taxtmi.com/forum/issue?id=114629 A taxpayer asked whether a Hindu Undivided Family (HUF) can be created by introducing cash as initial capital without gift, will, or ancestral property. Respondents noted that no legislation has yet abolished HUFs but a law reform consultation paper proposes repeal, which could change HUFs' future status. The taxpayer intends to form an HUF solely for tax purposes with only business income and no immovable property. en-us Thu, 14 Feb 2019 18:53:23 +0530 Thu, 23 Jan 2025 15:55:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114629 A taxpayer asked whether a Hindu Undivided Family (HUF) can be created by introducing cash as initial capital without gift, will, or ancestral property. Respondents noted that no legislation has yet abolished HUFs but a law reform consultation paper proposes repeal, which could change HUFs' future status. The taxpayer intends to form an HUF solely for tax purposes with only business income and no immovable property. Discussion-Forum Income Tax Thu, 14 Feb 2019 18:53:23 +0530 https://www.taxtmi.com/forum/issue?id=114629