Our Company has entered in to a rental agreement with HUF signed by Kartha. The kartha has expired recently and the only son has became Kartha. We have entered in to new agreement with the son (claims to be kartha of that HUF) but the son is asking us to pay the rent in HUF name and we argue that you became the kartha now so the payment will be in your name. He is not agreeing to that. Can some one help in this regard with relevant law
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Legal Heir of HUF
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The payment will be in name of the son but in the capacity of karta of HUF, If the property belongs to HUF.
But if it is partioned than it will be assessable as Individual property and payment and contract wil be made in name of son,though the partioned property belongs to HUF.
| CIT v. CG. Venkatasubben (1999) 150 Taxman 352 (Mad) |
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