Son can create HUF within father’s HUF
Upon the marriage of a male co-parcener, his wife also becomes a member of the HUF and the children of a co-parcener automatically become co-parceners at birth.
A co-parcener can make gifts to the HUF. It is preferable that the gift is implemented by a deed of gift or other writing
Can a son (who is a co-parcener in his father’s Hindu Undivided Family or HUF), who has his own HUF after getting married, continue to be a member of his father’s HUF? If he does, do his wife and children automatically become members of the original HUF? If he cannot continue as a member of the father’s HUF, do we have to inform the banker to the HUF about the change in co-parceners of the HUF? If he continues to be a member of his father’s HUF, can he (or for that matter any co-parcener of the HUF) give monetary gifts to the father’s HUF? Will these be tax-exempt up to ₹50,000 or up to the non taxable limit of income for tax purposes?