18 November 2008
If karta of a HUF business becomes disabled, can the rights of the HUF be tranferred to his wife the female member of the HUF. If yes, what is the procedure to be followed.
26 January 2009
If karta dies then automatically the next male member who is elder in the family will become the new karta. If the person is below the age of 18 then gaurdian will become the deemded karta for the purpose of the act. If there are no male members in the family then the HUF will be dissolved and will be distributed to the wife and female members.
CAclubindia
