This particular HUF has only 2 people in it - husband and wife. Now they are divorced. What happens to the HUF status now. Can karta continue to use the HUF and file IT returns? It will be a single memeber HUF. OR the HUF will have to be closed?
Note - the divorced wife does not want any share as all the financial matters are already mutually resolved.
HUF remains dormant, till you remarry. If divorced this year, File its (previous year) ITR.
Thanks for the reply.
- While the HUF remains dormant, can the HUF earn interest on existing amount - and consequently file IT returns and pay IT if any?
Thanks again.
During these years, any income of the Dormant HUF is assessed in the hands of the Karta
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