CAN A COPARCENERS HAVE A DIFFERENT HUF
This query is : Resolved
Dharmesh Udeshi
(Querist)
02 August 2007
CAN A COPARCENERS HAVE A DIFFERENT HUF AND IN WHICH HE WOULD BE A KARTA
FOR EG. MR. VIJAY KAMBLE A SON OF MAHESH KAMBLE IS A COPARCENER IN HIS FATHERS HUF AT A SAME TIME AS KARTA HE HAS FORMED HIS OWN HUF. '
FOR EG. MR. VIJAY KAMBLE A SON OF MAHESH KAMBLE IS A COPARCENER IN HIS FATHERS HUF AT A SAME TIME AS KARTA HE HAS FORMED HIS OWN HUF. '
02 August 2007
See, Just like a person can be a member/ director in multiple companies, A person can be coparcener in multiple HUF's.
In my opinion, There is no specific prohibition on this matter.
In my opinion, There is no specific prohibition on this matter.
Late CA Sampat Jain
(Expert)
02 August 2007
There is no bar in a person being coparcerner of greater and smaller HUF at a time
Dharmesh Udeshi
(Querist)
02 August 2007
My quesion is can a coparcener in one HUF be a KARTA in another HUF, i.e form a new HUF
02 August 2007
Definitely He can form another HUF(s).
There is no specific restriction
There is no specific restriction
04 August 2007
Dear Sir,
There is no problem for a person in being a co parcener in HUF 1 and also simutaneously being Karta of another HUF.
In fact Mr A, Mrs A and his son/daughter are enough for another HUF. Thus each individual family in a big family is a HUF.
Thus dual role cannot be avoided. Practically evaluate the merits and demerits in the particular case whether such dual role is necessary and beneficial.
There is no problem for a person in being a co parcener in HUF 1 and also simutaneously being Karta of another HUF.
In fact Mr A, Mrs A and his son/daughter are enough for another HUF. Thus each individual family in a big family is a HUF.
Thus dual role cannot be avoided. Practically evaluate the merits and demerits in the particular case whether such dual role is necessary and beneficial.
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