FAQs
What are the key benefits of forming an HUF in Aurangabad?
Forming an HUF provides:
✔ Tax benefits with a separate PAN and exemptions.
✔ Asset protection and structured wealth management.
✔ Legal recognition as a separate entity for transactions.
What is the process for HUF registration in Aurangabad?
To register an HUF:
Draft an HUF Deed stating Karta and members.
Apply for an HUF PAN card.
Open an HUF bank account.
Transfer assets or income to the HUF.
Can an HUF own property and run a business in Aurangabad?
Yes! An HUF can:
✔ Own residential or commercial properties.
✔ Operate a business under its name.
✖ Salary or professional income cannot be included.
What documents are required for HUF formation in Aurangabad?
HUF Deed (signed & notarized).
PAN card application for HUF.
ID & address proof of Karta and members.
Bank account opening documents.
How can I dissolve an HUF in Aurangabad?
HUF dissolution can be done through:
Partition – Legal division of assets among members.
Mutual agreement – Voluntary closure by all members.