HUF deed incase of Death of Karta

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This discussion addresses the process of updating an HUF (Hindu Undivided Family) deed after the karta's death. The new karta is inquiring whether a monetary transaction, specifically a gift from the HUF to the new karta as indicated in a deed format, is mandatory. Advice suggests that an amendment to the original HUF declaration is the appropriate way to handle this transition, rather than a new deed with a monetary gift.

DIVYESH JAIN

DIVYESH JAIN (Querist)

14 January 2023 Dear Sir,

I want to make an HUF deed in which my father was the Karta of HUF. Now after his demise I want to become the Karta of the same HUF.

My query is do I have to make any monetary transaction with HUF since I will be becoming the Karta of HUF. The format of the HUF deed shows Gift to be received in cash/cheque to the new karta.

Please help me resolve this issue.

Regards,
Divyesh Jain

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

14 January 2023 Not mandatory.

DIVYESH JAIN

DIVYESH JAIN (Querist)

14 January 2023 Below is the format of the HUF deed I have got. From this deed can I remove the point number 2 of Gift received from HUF and execute the deed.

Please suggest.

DECLARATION

I, ________________ son Of __________________ Residing at ______________________ aged ___Adult do hereby declare-

1. That I am Karta of ___________________________________________ .

2.That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEQUE from my FATHER ___________________________(name of relative of karta of HUF) on dt. _______________ this formed the corpus of the HUF.

3. That the HUF at present is consisting of the followings members- I) Shri _____________________, Adult, Residing at _________________ II) Smt. _____________________, Adult, Residing at _________________ III) Kumari _________________-Minor, Residing at ___________________

4. That the above statements are true to the best of my knowledge & belief. Declare this on _________________

WITNESS: Signature 1. ————————————– ———————————
2. ————————————– (_____________________)

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

14 January 2023 Yes, but make it as amendment to original HUF declaration.

DIVYESH JAIN

DIVYESH JAIN (Querist)

14 January 2023 Ok Sir, Thanks you very much.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

14 January 2023 Most welcome ...

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