HUF Registration

  • Private Limited Company Registration Starting at just ₹999 + Govt Fee
  • Get expert assistance for Indian company registration, including SPICe-INC-32, eMoA-INC-33,
    and eAOA-INC-34 filings on MCA, along with DSC provisions, all completed in one go for your company.
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Working Process

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Discussion With Expert

Submit Documents

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Right plan for your business

Standard

2499/- + GOVT FEE

It offers a reliable and cost-effective hosting solution with all the essentials you need to get started.
  • Expert Assisted Process
  • Drafting of HUF Deed
  • PAN Card

Additional Feature:

*Notes

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Startup Plan

3499/- + GOVT FEE

It includes a range of advanced features and resources to support and grow your online presence.
  • Expert Assisted Process
  • Drafting of HUF Deed
  • PAN Card
  • GST Registration.
  • MSME Registration (Udyam)

Additional Feature:

*Notes

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Shark Plan

7499/- + GOVT FEE

It offers the most robust set of features and resources to ensure the smooth operation and growth of your website.
  • Expert Assisted Process
  • Drafting of HUF Deed
  • PAN Card
  • GST Registration.
  • MSME Registration (Udyam)
  • Income Tax Return for 1st Year

Additional Feature:

*Notes

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  • Overview
  • Advantages
  • Disadvantages
  • Expert Advice
  • Documents Required
  • Steps for Creation of HUF
  • Why TaxSharks

List Documents For Company Registration

As experienced consultants for company registration, we at Setindiabiz understand the importance of documentation in ensuring a smooth and successful registration process for a Private Limited Company. To make it easier for our clients, we have compiled a table below listing all the necessary documents required for the incorporation process.

Advantages of Forming a Hindu Undivided Family (HUF)

Tax Benefits

One of the significant advantages of forming an HUF is the potential for tax benefits. HUFs have their own separate tax entity, and they can avail themselves of certain tax deductions and exemptions

  • Basic Tax Exemption Limit of Rs. 2,50,000.00
  • Section 80C 1,50,000.00
  • Sum of money received without consideration upto Rs. 50,000.
  •  

Pooling of Resources

HUF allows for the pooling of financial resources from various family members. This collective financial strength can be utilized for joint family investments, businesses, or other ventures.

Continuity of Family Wealth

The concept of HUF helps in preserving and passing on family wealth from one generation to the next. Assets held by the HUF are considered ancestral property, and they can be passed down to the next generation without attracting gift tax.

Succession Planning

HUF facilitates smooth succession planning by defining a clear lineage for inheritance. It provides a structured way for passing on property and assets to the next generation while maintaining family unity.

Legal Recognition

HUF enjoys legal recognition in India, and it has the right to own and acquire property in its name. This legal entity status can simplify various financial transactions and property dealings.

Expert Advice

It is recommended when you are having any ancestral or parental property which you have let out to earn Rental Income and being a Salaried Person your already fall under 20%-30% Tax Slab.

Disadvantages of Forming a Hindu Undivided Family (HUF)

Equal Rights in the Assets

One of the biggest disadvantages of the HUF is that all members have equal rights on the property. The common property or asset cannot be sold without the consent of all the members.
Closing a HUF is a complex process. Once the HUF is terminated, all the assets need to be distributed among all the members of HUF which can be quite difficult.

Documents Required

Following are the requisite HUF Registration Documents.

Identity Proof

  • PAN Card
  • Passport / Driver’s License / Voter ID / Ration Card / Aadhar Card

Proof Of Residence

  • Bank Statement / Electricity Bill

For Registered Office

  • Rented Premises: Notarized copy of lease or rent agreement in the name of the HUF along with Latest Electricity Bill not older than two months.
  • Owned Premises: NOC from landlord to use the premises as its registered office & Latest Electricity Bill not older than two months.

Steps for Creation of HUF

Step 1: Drafting the HUF Deed

To initiate the creation of an HUF, the first crucial step involves drafting the HUF Deed. This formal document on a Stamp Paper, delineates the Karta (head of the family) and the Co-parceners or members of the HUF. The eldest male family member typically assumes the role of Karta. The HUF Deed also outlines the initial capital invested in the HUF.

Step 2: Application for HUF PAN Card

Obtaining a separate PAN (Permanent Account Number) for the HUF is imperative, as it signifies its distinct legal identity. Upon successful allotment of the PAN Card, the HUF can file separate tax returns, enabling it to claim tax benefits and deductions similar to those available to individuals

Step 3: Open HUF Bank Account

The last step is to open a Bank Account in the name of the HUF through which all the transactions will be made.

Why Taxsharks

TaxSharks is a idea introduced by like-minded professionals understanding the issues & problems faced by small, medium & large businesses. We are team of professionals including Chartered Accountants, Company Secreteries, Lawyers & Consultants, passionate to simplify the taxation & business laws. We aim at providing one on one expert assistance about all your queries assuring satisfaction.

TAXSHARKS

TAXSHARKS