HUF

This query is : Resolved

CA.Ritu Agarwal (Querist)
Follow

01 August 2009 Hi
say a HUF consist of Mr.A, MrsA, their four sons all married and having sons and daughters. Now Mr A Karta dies, then whether HUF can be continued by the other members of the family or they have to do partition.

Hiren Panchal

Hiren Panchal (Expert)
Follow

01 August 2009 It Doen't matters whether 'Karta' Dies or Alive,
Other Member of Family can continue after death of Lt.Mr.A as 'Karta' because Mrs.A is still alive and HUF family is still exist...

in case of discontinue of Lt.Mr.A as karta...
The elder Son/ Mother can be Karta...

CA.Ritu Agarwal

CA.Ritu Agarwal (Querist)
Follow

01 August 2009 Is lady allowed to be a karta. please check and confirm.

CA.Ritu Agarwal

CA.Ritu Agarwal (Querist)
Follow

01 August 2009 is lady allowed to be karta of a HUF

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
Follow

01 August 2009 An HUF consists of a karta, the senior most male member of the family or the manager of the joint family property, coparceners (the son, grandson and the great grandson of the karta who acquire interest by birth in the joint family property) and the members, including female members as well as distant blood relatives in the male line. As the name implies, a single person cannot be an HUF, but a husband-wife can. A female member cannot become the karta of HUF, however, after the last male member dies, HUF may consist of female members only. Despite the name ‘Hindu’, the tax law applies to Jains, Buddhists and Sikhs.

Message likes : 1 times