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HUF Formation Draft

A declaration-cum-formation draft for constituting a Hindu Undivided Family (HUF), identifying the Karta, coparceners, and initial corpus — commonly used to open a bank account and apply for a HUF PAN. Fill in the fields to generate a first draft.

General-reference format provided by PNPC Global. Not legal advice. Laws and stamp-duty requirements vary by state and change over time — have this document vetted by a qualified professional before execution.

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DECLARATION OF HINDU UNDIVIDED FAMILY

1. Declaration

I, __________________, residing at __________________, holding PAN __________________, do hereby solemnly declare and affirm that I am the Karta of the Hindu Undivided Family known as "__________________" (the "HUF"), governed by the Hindu Succession Act, 1956 and applicable Hindu law and customs relating to joint family property.

2. Constitution of the HUF

The HUF known as "__________________" presently consists of the following coparceners/members: (a) __________________ (Karta); (b) __________________; (c) __________________; and (d) __________________, all of whom are members of the joint Hindu family by birth or marriage as recognised under Hindu law.

3. Formation and Existence

The HUF has come into existence by operation of Hindu law upon the birth of a coparcener into the family / upon marriage, and this declaration is made to formally record its existence, membership, and initial corpus for the purposes of applying for a Permanent Account Number (PAN), opening a bank account, and other administrative and tax purposes.

4. Initial Corpus

The initial corpus of the HUF comprises __________________, received as __________________. This amount, being received by way of gift/inheritance and not as income earned by any individual member in their personal capacity, forms part of the joint family property of the HUF.

5. Karta's Authority

As Karta, __________________ shall manage the property, business, and affairs of the HUF for the benefit of all coparceners, and shall be entitled to represent the HUF before all authorities, banks, and third parties, subject to the fiduciary duty to act in the interest of the family as a whole.

6. Rights of Coparceners

Each coparcener named above has, by birth, an undivided interest in the joint family property of the HUF, and is entitled to demand partition of such property in accordance with Hindu law, and to seek accounts from the Karta regarding the management of the HUF's property and income.

7. Income and Taxation

The income earned from the corpus and any joint family property or business of the HUF shall be assessed to tax in the hands of the HUF as a separate assessee under the Income Tax Act, 1961, distinct from the individual assessments of the Karta and coparceners, and the HUF shall obtain a separate Permanent Account Number for this purpose.

8. Bank Account Operation

The HUF's bank account(s) shall be operated by the Karta, or by such other coparcener as the Karta may authorise in writing from time to time, and all cheques, instruments, and instructions in relation to the HUF's bank account shall be signed in the name and style of the HUF.

9. No Individual Claim

No coparcener, other than through the process of partition recognised under Hindu law, shall have any individual, severable claim over specific assets of the HUF, and all coparceners acknowledge that the property declared herein belongs to the joint family and not to any individual member.

10. Place and Date of Declaration

This declaration is made and signed at __________________ on __________________, and shall be binding on all present and future coparceners of the HUF.

Execution / registration notes
  • This is a self-declaration format commonly accepted by banks and for PAN applications — some banks may additionally require an affidavit format on stamp paper; check with your specific bank.
  • A HUF cannot be created by agreement — it arises by operation of Hindu law; this declaration only formally records an existing HUF's constitution and corpus.
  • The gift or inheritance forming the initial corpus should not originate from the Karta's own individual funds without adequate documentation, to avoid clubbing provisions under Section 64(2) of the Income Tax Act.
  • Consult a chartered accountant before relying on this declaration for tax filings, as HUF taxation involves specific provisions on partition, clubbing of income, and coparcenary rights of daughters under the 2005 amendment to the Hindu Succession Act.
General-reference format provided by PNPC Global. Not legal advice. Laws and stamp-duty requirements vary by state and change over time — have this document vetted by a qualified professional before execution.
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HUF Formation Draft

Access a draft declaration and deed for forming a Hindu Undivided Family (HUF).

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Unlock the benefits of a Hindu Undivided Family (HUF) with our expert guidance.

Navigating through legal structures and administrative procedures can be daunting, especially when it comes to forming a Hindu Undivided Family (HUF). PNPC Global, with over 42 years of experience in CA services, has crafted a comprehensive solution to make this process smoother for you. Our draft declaration and deed are meticulously prepared to ensure all legal requirements are met, simplifying what could be a complex endeavor.

Why it matters
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Dealing with intricate legal documents can often lead to confusion and mistakes.

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Understanding the nuances of HUF formation in your specific jurisdiction might be overwhelming.

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Securing expert advice on forming an HUF can be costly and time-consuming.

What's Included

Service scope & deliverables.

  1. 01

    Draft declaration for Hindu Undivided Family (HUF).

  2. 02

    Deed of partition for members of the family.

  3. 03

    Explanation document clarifying legal implications.

  4. 04

    Sample documents to streamline the process.

  5. 05

    Expert consultation session with a CA professional from PNPC Global

Our Process

How we deliver this service.

01 — Initial consultation

We review your requirements and establish the scope of work.

02 — Documentation review

We collect and analyse all relevant documents and information.

03 — Execution & filing

Expert team prepares, reviews, and submits all required work.

04 — Completion & handover

Final deliverables provided with a compliance summary and next steps.

Why PNPC Global

PNPC Global, with our 42-year legacy in CA services, has honed expertise in navigating complex legal frameworks. Our team can provide you with tailored advice and guidance that ensures your HUF is set up correctly and efficiently. Trust in the hands of experienced professionals who understand not only the law but also its practical applications.

Rest assured that your HUF is formed according to all necessary laws, saving you time and effort while ensuring compliance.

Frequently asked
Is it mandatory for members to review these documents before signing them?
Yes, we recommend that each member reviews and understands the contents before proceeding with any signatures.

Jurisdictions

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India

Chennai · Bangalore · Hyderabad

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UAE

Dubai · Al Karama

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