01 August 2009
Hi say a HUF consist of Mr.A, MrsA, their four sons all married and having sons and daughters. Now Mr A Karta dies, then whether HUF can be continued by the other members of the family or they have to do partition.
01 August 2009
It Doen't matters whether 'Karta' Dies or Alive, Other Member of Family can continue after death of Lt.Mr.A as 'Karta' because Mrs.A is still alive and HUF family is still exist...
in case of discontinue of Lt.Mr.A as karta... The elder Son/ Mother can be Karta...
01 August 2009
An HUF consists of a karta, the senior most male member of the family or the manager of the joint family property, coparceners (the son, grandson and the great grandson of the karta who acquire interest by birth in the joint family property) and the members, including female members as well as distant blood relatives in the male line. As the name implies, a single person cannot be an HUF, but a husband-wife can. A female member cannot become the karta of HUF, however, after the last male member dies, HUF may consist of female members only. Despite the name ‘Hindu’, the tax law applies to Jains, Buddhists and Sikhs.
CAclubindia
