10 June 2008
Whether a Karta can in his right keep the money of his HUF in a SB account in his name as a custodian of the family's fund? (Kindly qoate the case law)
02 October 2008
The account can be in the name of karta but it should be suffixed as HUF account if it is to be identified clearly, so that there is no mix up of personal and HUF properties. Even for taxation this will be necessary.
CAclubindia
