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HUF of a Practicing CA

Others 514 views 1 replies

CA Abhishek keshari

A.K. Keshari & Associates

106 Points Joined June 2010

I am a practicing CA and in family only 2 members (wife and Daughter)

I want to Creat a HUF for investment a amount which is transferred by my father and also i want to do business which is division of family business.

how to start HUF in this case because a Practicing CA can't be karta of a HUF.

please suggest me.

Replies (1)

It is possible to have female karta Mrs Sujata Sharma vs Shri Manu Gupta & Ors [CS (OS) 2011/2006], the Delhi high court held that an eldest female member of a family, being the coparcener in an HUF, may become the karta of an HUF. The court held that the Hindu Succession (Amendment) Act, 2005 which placed female coparceners on equal footing with male coparceners also extends to the position in relation to a karta of an HUF. The said amendment also states that a female coparcener shall not cease to be a member of her father’s HUF upon her marriage.