HUF of Female
This query is : Resolved
10 October 2019
Dear Sir / Madam,
I have following queries regarding HUF formation.
Background: my family consists of my father, mother, myself and my wife. My father is incapable to sign any documents and he is suffering from dementia and Parkinson's.
Questions
1. Can my mother open HUF account in her name. ( As my father is in incapacitated die to illness)
2. Can she become karta of HUF
3. Can I contribute to capital of this proposed HUF
4. Can HUF buy property from these funds.
5. Is there any tax implications of my mother and me contribute to capital of HUF
Thanking you in advance.
Regards
I have following queries regarding HUF formation.
Background: my family consists of my father, mother, myself and my wife. My father is incapable to sign any documents and he is suffering from dementia and Parkinson's.
Questions
1. Can my mother open HUF account in her name. ( As my father is in incapacitated die to illness)
2. Can she become karta of HUF
3. Can I contribute to capital of this proposed HUF
4. Can HUF buy property from these funds.
5. Is there any tax implications of my mother and me contribute to capital of HUF
Thanking you in advance.
Regards
26 May 2020
I think HUF Members/Karta needs to be of sound mind
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