CAN A COPARCENERS HAVE A DIFFERENT HUF

This query is : Resolved

Dharmesh Udeshi (Querist)
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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. '

CA Mani

CA Mani (Expert)
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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.

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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02 August 2007 There is no bar in a person being coparcerner of greater and smaller HUF at a time

Dharmesh Udeshi

Dharmesh Udeshi (Querist)
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02 August 2007 My quesion is can a coparcener in one HUF be a KARTA in another HUF, i.e form a new HUF

CA Mani

CA Mani (Expert)
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02 August 2007 Definitely He can form another HUF(s).

There is no specific restriction

CA Prasanna Krishnan V

CA Prasanna Krishnan V (Expert)
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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.