Bank account of a HUF
This query is : Resolved
Ravi Mishra
(Querist)
31 January 2009
What will be the treatement of HUF account on the death of KARTA.If other Co-parcners are will to continue the existing account.
1. Existnig account can be continued with Senior most male co-parcner be designated as KARTA.
2. Existnig account to to be closed and a new account is to be opened.
Kindly guide me in this matter.
1. Existnig account can be continued with Senior most male co-parcner be designated as KARTA.
2. Existnig account to to be closed and a new account is to be opened.
Kindly guide me in this matter.
CA. B.SRINIVASULU
(Expert)
01 February 2009
HUF account is also like a perpetual account of company or partnership firm.
The person who has become karta has to submit his identity proof address proof and also submit a letter alongwith death certifiacate of the erstwhile karta along with legal heir certifiate.
The person who has become karta has to submit his identity proof address proof and also submit a letter alongwith death certifiacate of the erstwhile karta along with legal heir certifiate.
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