03 December 2012
my grandfather needs to dosolve his huf can u tell me who are the co-parsners to the huf he has a wife, 2 sons and 3 daughters. and grand sons and grand daughters to all the 5 childrens. how can he desolve the huf. can his huf be continued after his death? if so who will be the karta? his eldesst son or a daughter or his wife?
03 December 2012
The better word is PARTITION. (Please never use the word dissolution.) Partial partition is NOT recognised by Indian Income Tax. If he does not partition the HUF, the eldest son will be KARTA after his sad demise.