HUF - Source of Income

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  1. sunil gavasakr

    sunil gavasakr New Member
    The all source of HUF is going to be my ( karta ) salary only as Gift, which will in turn be invested in Debt funds ...etc.
    Please mention the procedure to gift to HUF account. Also, confirm me whether above methodology is fine IT men.

  2. ChoudharyG

    ChoudharyG New Member

    I have exactly same query.
    I have HUF created around 5 years back and every year IT return being submitted.
    Every year it was being filled thru an CA. This year I wanted to file online , as income in HUF account as well as My personal account is SAME as last year.
    I have a querry as to What shall be indicated as "Source" of Income for HUF into ITR form 4S. ?
  3. ZED

    ZED Well-Known Member

    Prepare a gift deed and make transfer through bank. This should be sufficient.
  4. ZED

    ZED Well-Known Member

    ITR-4S is not applicable in your case. Please do not post your query on multiple threads. Lets continue in the previous one.
  5. sunil gavasakr

    sunil gavasakr New Member

    Thanks for your reply. I understood that, I have to get ready the gift deed for every month - salary!.
    Can you mention the Gift Deed procedures/formats/stamp value etc.
  6. ZED

    ZED Well-Known Member

    Sir, there are plenty of formats available on net. View few of them and create your own format. Stamp duty rate differs from State to State.
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