Kaagazaat

HUF Creation Deed and Declaration

At a glance

Price: Free, always.
Stamp duty: Whether this Deed needs stamp paper in Punjab or Chandigarh, and of what value, was not confirmed.
Registration: Not stated as compulsory.
Witnesses: Two witnesses sign.

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Free, always.

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Also called

HUF deed
HUF declaration
HUF formation deed
HUF creation deed
Hindu Undivided Family deed
HUF PAN application declaration
HUF bank account declaration
karta declaration

When you need it

Use this Deed when a joint Hindu family wants a written declaration of its Hindu Undivided Family (HUF) — the HUF's name, its Karta, its Members and its opening funds — so that it can apply for a PAN in the HUF's name and open a bank account in that name. The Members named must really be one joint family.

The Deed records and declares the HUF; it does not make unrelated people a family. It asks who the Karta is, who the Members are with their ages, where the opening funds come from and how they are paid in, and it keeps the HUF's money separate from the family members' own money. The Deed states no tax position. The tax treatment of the opening funds, especially a gift, should be confirmed with a chartered accountant before the account is used. Not for dividing HUF property: use the Partition Deed of a Hindu Undivided Family. Not for gifting property to the HUF: use the matching gift deed. Not for a company, firm or trust.

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You can fill this one in on this site, and read the whole draft on screen before you decide anything about it. It is a carefully drafted template; it is not advice about your own facts.

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See stamp duty, registration and witnesses

What follows is written for Punjab and Chandigarh. It states the position there rather than describing how it varies, so the amounts below are the ones that apply — worth confirming at the sub-registrar’s office, because rates change. If the property is anywhere else in India, none of this is yours.

Stamp duty

Whether this Deed needs stamp paper in Punjab or Chandigarh, and of what value, was not confirmed. Ask a licensed stamp vendor or the Sub-Registrar, and ask the bank what it wants before you sign.

Registration

Not stated as compulsory. This Deed declares a family and records opening funds in money; it transfers no land or building. If immovable property is later put into the HUF, a separate instrument may be needed; ask the Sub-Registrar.

Notarisation

Not required by this form. Ask the bank whether it wants a notarised or stamped copy.

Witnesses

Two witnesses sign. The Karta and every adult Member named in the Schedule also sign.

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Sample preview — placeholder answers, not your data

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HUF CREATION DEED AND DECLARATION

(A declaration of a Hindu Undivided Family, naming its Karta, its Members and its opening funds, for a PAN and a bank account in its name)

THIS DEED AND DECLARATION is made at Chandigarh on 1 April 2026.

THE KARTA

Gurpreet Singh, son of Harbans Singh, residing at X, PAN ABCPS1234K

(the "Karta"), acting for the HUF and, with their agreement, for the Members named in the Schedule at the end of this Deed (the "Members")

DECLARATIONS

1. The family and the HUF

1.1 The Karta and the Members are members of one joint Hindu family. The Members live together as one family and share a common household.

1.2 The Karta and the Members declare the Hindu Undivided Family known as Gurcharan Singh HUF (the "HUF"), and record in this Deed its Karta, its Members and its opening funds, so that the HUF can apply for a PAN and open a bank account in its own name.

1.3 Background of the family: The family has held ancestral agricultural land at Ludhiana for three generations..

2. The Karta

2.1 The Members accept the Karta as the manager of the HUF. The Karta may act for the HUF in its dealings with the tax authorities and with banks, apply for a PAN in the name of the HUF, open and run a bank account in the name of the HUF, and sign the forms and declarations that those dealings need.

2.2 If the Karta dies or can no longer act, the adult Members will choose a new Karta in writing and tell the bank and the other offices concerned.

3. The Members

3.1 The Members are the persons named in the Schedule, with their relationship to the Karta and their ages. Each adult Member signs this Deed and agrees to it.

3.2 The Karta will keep the list of Members correct, and will record any change in a note signed by the Karta and kept with this Deed.

4. Opening funds

4.1 The opening funds of the HUF are ₹1,00,000 (Rupees One Lakh only). Source of the opening funds: ancestral or joint family property that the family already holds.

4.2 Details of the opening funds, including who gave them, when and how they were or will be paid in: Gift of Rs 1,00,000 from Mr Jaswant Singh (a family friend), received by bank transfer on 05 August 2026 and to be paid into the HUF account when it is opened..

4.3 The opening funds, and everything later added to the HUF or earned from its property, belong to the HUF and are held by the Karta for the family. They are not the Karta's personal money.

5. PAN and bank account

5.1 The Karta will apply for a PAN in the name of Gurcharan Singh HUF and will open a bank account in that name with State Bank of India, Sector 17, Chandigarh, and will pay the opening funds into it.

5.2 The HUF's money and property will be kept separate from the personal money and property of the Karta and the Members. The HUF's bank account will be used only for the HUF's money.

Questions about this document

Does the HUF Creation Deed and Declaration need stamp paper or stamp duty in Punjab and Chandigarh?

Whether this Deed needs stamp paper in Punjab or Chandigarh, and of what value, was not confirmed.

See the full position on stamp duty, registration and witnesses

Does the HUF Creation Deed and Declaration need registration in Punjab and Chandigarh?

Not stated as compulsory.

See the full position on stamp duty, registration and witnesses

What does the HUF Creation Deed and Declaration cost on Kaagazaat?

Free, always.

Does the HUF Creation Deed and Declaration need witnesses?

Two witnesses sign.

See the full position on stamp duty, registration and witnesses

Often needed with this document

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