HUF Filing

Description

HUF Registration and Filing: Required Documents

1. HUF Registration
   • What it is: Legal creation of an HUF entity, allowing families to manage and hold assets jointly, and file taxes as a separate entity.
   • Documents Required:
     • Karta’s (head of family) PAN and Aadhaar – Identification for the Karta, who is responsible for managing the HUF.
     • HUF Declaration Deed – Document stating the formation of the HUF and the family members included.
     • Proof of Address (e.g., utility bill, rental agreement) – Address proof of the HUF entity.
     • Affidavit of Family Members – Names and relationships of all members in the HUF.
     • Bank Account Opening Documents – Documents required to open a bank account in the name of the HUF.
2. HUF Income Tax Filing
   • What it is: Annual filing of income tax returns for the HUF entity, covering income, investments, and deductions applicable to the HUF.
   • Documents Required:
     • PAN Card of the HUF – Mandatory for filing tax returns.
     • Bank Statements of the HUF – Record of financial transactions made by the HUF during the financial year.
     • Investment Proofs and Income Statements – Details of any assets, investments, or income (e.g., rental income, interest) earned by the HUF.
     • Expense and Deduction Documents – Proof of eligible deductions (such as 80C investments) applicable to the HUF.
     • Previous Year’s Tax Return (if applicable) – Prior year’s tax return, if any, for reference.