Sage-Tips

What documents are required to open HUF account?

Account Opening Documents (HUF)

• Bank account should be in the name of HUF.
• Photograph of Karta.
• Proof of identity (same as stated for Individuals)
• Proof of address of the Karta (same as stated for Individuals)
• Pan number in HUF’s name.
• Proof of Bank Account: Any one of the following may be submitted.

How can I open Hindu undivided family account?

Once a HUF is formed it must be formally registered in its name. A HUF should have a legal deed. The deed shall contain details of HUF members and the business of the HUF. A PAN number and a bank account should be opened in the name of the HUF.

Can we open HUF demat account?

Yes, HUFs need to open a Demat and trading account as the registered entity would also need to hold securities after purchasing them. Furthermore, the transactions done to purchase these securities demand the opening of a trading account. A HUF can open a Demat account with any stockbroker such as IIFL in India.

Is PAN mandatory for HUF account?

An HUF has a separate PAN and the karta must apply for one. The PAN needs to be quoted while making investments and carrying out financial transactions of the HUF.

What is the proof of HUF?

For HUF, an affidavit made by the Karta of Hindu Undivided Family stating name, father’s name and address of all the coparceners on the date of application and copy of any of the above documents in the name of Karta of HUF is required is required as proof of identity, address and date of birth.

Can we have family account in Zerodha?

I’m an existing account holder at Zerodha, can I open an account for a family member or friend using my phone number, email? No, unfortunately, this won’t be possible. Your mobile number and email address cannot be used to open someone else’s trading and DEMAT account.

Can ATM be issued to HUF account?

any one can withdraw money through atm card.. only one problem is issue cheque/issue withdraw slip. surely its can do by the account holder only.,if its huf also there should be a account holder. whole family can not be as “account holder” otherwise whole family should be come to every transaction.

What are the documents required for HUF PAN card?

The necessary documents/information required are:

• The name of the HUF;
• Photograph of the Karta;
• Proof of address and identity of the Karta;
• PAN card and PAN number of the HUF;
• The list of coparceners and members;
• A declaration by the Karta as to which members and coparceners are authorised to operate the bank account;