Hi Boarders,
Would you be able to comment on how to create a HUF (for Income Tax purposes) ? Specifically :
1. When can we create a HUF ? Do a person need to have a Male child or can a female Child suffices for the requirement of HUF creation.
2. Do we need to create or execute a deed / legal document ?
3. How would the bank account of HUF be opened ?
Thanks in advance for your valuable responses.
Regards
BFA