How to Open a HUF

Who can OpenChecklistProcessKey Words – Draft Affidavit

Who can Open/Register/Formulate the HUF

HUF can be registered/formulated by any Male Member of the Family if he has a child/children. HUF is Hindu Undivided Family, and Buddhist, Sikh, and Jain can also register HUF. 

Checklist of the documents, which all are needed for the HUF Formation:-

  1. PAN of the Karta 
  2. Aadhar of the Karta 
  3. Aadhar of the co-partner
  4. Stamp of HUF 

 

Process

Step 1: Arrange the above documents. 

Step 2: Prepare the Affidavit based on the above documents. 

Step 3: Now this Affidavit needed to be printed on a stamp paper of Rs. 10. This affidavit also needed to be notarized.

Step 4: Fill up a PAN Application form. Get it signed and stamped. And the Apply for PAN.

Step 5: PAN will be allotted in few days. 

Step 6: After allotment of PAN, open a Bank Account. 

Step 7: Now the HUF has been formulated. It is ready for working now. 

Key Words: 

Karta: Karta is the key and eldest person in HUF.
HUF is formulated on the name of Karta. For example, the name of Mr. Ram Kumar’s HUF will be “Ram Kumar (HUF)”

Co-Parcner: They are the person, who is entitled to share the income and Property of HUF. HUF belongs to its Karta and co-parcner. All have rights in HUF.

Draft Affidavit for HUF Formation

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