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Old 20th October 2016, 10:36 AM
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Default HUF Account Opening Form SBI

I am planning to open an account in the State Bank of India planning to open Hindu Undivided Family (HUF) account. Can you provide me Hindu Undivided Family (HUF) account opening form along with Features of HUF account also provide contact details and address of this bank?
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Old 20th October 2016, 11:21 AM
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Default Re: HUF Account Opening Form SBI

State Bank of India is an Indian multinational, public sector banking and financial services company.

It is a government-owned corporation with its headquarters in Mumbai, Maharashtra

About Hindu Undivided Family (HUF):-

HUF is a family with husband, wife and children (and children’s spouses if any) living together. The property owned by this family will be through lineal ascendants or any ancestors

HUF Account Opening Form SBI




Features of HUF account:-
There are a few features of HUF account that makes it different from regular saving bank accounts.

Every member of the family can deposit their income in the common corpus
Single person’s authority while participation from entire family
Tax benefits on deposits under various sections
Corpus can be divided only on agreement of every coparcener of the family

Documents required for opening HUF account:-

HUF will have a unique PAN card; this PAN card along with the PAN of Karta should be produced.

A declaration form will be provided where every member has to make a signature stating the name of Karta and declare
They are the only members of HUF.
Karta to have sole authority over HUF account
Every transaction on behalf of HUF account, made by each member of the family is governed by karta.

Residential proof of Karta
Identification proof of Karta

Contact:

State Bank of India
State Bank Bhavan, Madam Cama Road
Mumbai-400021.

SBI Office Phone Number: +91-22-22029456
SBI Office Fax Number: +91-22-22742431
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