21 December 2016
Can a person be a karta in 2 HUF??
Suppose,
there is a HUF of my father having member :
FATHER : KARTA
MOTHER : member
Son : member
after father death, Son becomes KARTA of such HUF..
Now, Can Son can have his own HUF Consisting himself as Karta , wife as member & his son also as a member..??
Till what time the father HUF can go on ??
21 December 2016
In case of death of Karta the legal heir, (son in ur case) can become Karta. He also can form his own separate HUF other than of his father .
21 December 2016
Yes , a person can be a KARTA in 2 HUF , in one of it he was earlier a coparcener, now elevated to be a karta of a HUF, as inherited HUF , and in second one he is KARTA being promoter of a HUF
CAclubindia
