Dissolution of HUF in case of death of karta
This query is : Resolved
26 November 2021
How to dissolve the HUF when there is death of karta and there is only capital in liabilities side and deposits in assets side.What transfer entries needs to be passed ? What other formalities needs to be done ?
26 November 2021
HUF is dissolved on the partition of property between the members. If there is no immovable property to be shared, make a notarized dissolution deed and settle the deposits amount. Apply to ITO for recognization of dissolution of HUF with settlement of any tax liability & surrender the PAN.
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