HUF Registration

Solubilis provide Hindu Undivided Family registration services in Chennai, Bangalore, Hyderabad, Cochin and anywhere in India. In olden days business houses are run by families and later due to business growth and expansion the management of the business was given to the professional managers. Indian Income Tax act recognizes Hindu Undivided Family as an assessing entity. Hindu Undivided Family is the life style of Hindu religion. All the family members live together under the guidance and direction of the one eldest family member. Similarly, the business is also managed by members of the Hindu Undivided Family. Hindu Undivided Family shall mean a family consist of senior elderly persons lineally descended from common ancestors and include their wives and unmarried daughters. In Hindu Undivided family, senior most member of the family will be called as “Karta”, who will manage business of the family. The other male and female members of a HUF all designated as co-parceners.

Solubilis corporate services assist the clients registering Hindu undivided Family (HUF) as a separate tax entity.

Features of HUF:

  • HUF must have minimum of two related family members. This may be husband and wife later their children and their families will become members of the HUF.
  • Members are eligible to be co-parceners by their birth in the family,Surprisingly, even minor members will be part of the HUF.
  • Hindu undivided family will be headed by senior most member as Karta who will be the head of the HUF. He will have entire control of the family and business.
  • HUF is recognised as a separate tax entity can own asset, borrow money etc.
  • Hindu Undivided Family has continues perpetuity. On the death of Karta, the next eldest member will be the Karta and continue to manage family/ business activities.
  • Karta is the only person having full control over the management of the HUF. Solubilis will assess the assesse in planning their tax for income through creation of bigger HUF small HUF and individual member.

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