Regarding continue business.

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It is indeed possible to continue a Hindu Undivided Family (HUF) business even after the death of its Karta. The business can either be continued by other family members as an HUF, retaining the same PAN if certain conditions are met. Alternatively, if there are no other members or the son is unmarried, the business may need to be continued as an individual proprietorship under a new PAN.

JIGNESH

JIGNESH (Querist)

20 August 2020 I wish to continue business after death of HUF. It's possible or not ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 August 2020 Yes, it's possible either as individual in case of no other members or continue as huf with other members.

Message likes : 1 times

JIGNESH

JIGNESH (Querist)

20 August 2020 Sir, thank for reply...
Sir, if I am understand, the other person (HUF's son) will continue this business. If yes than pan number will change than how is possible ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

20 August 2020 If son is married he can continue as huf with same PAN number If not married and no other members as individual he has to continue with new PAN.

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