i have bought some mutual funds in my HUF . Being KARTA of the HUF can i nominate now itself my wife or a particualr child or even myself in that WITHOUT actually breaking the HUF .
i have bought some mutual funds in my HUF . Being KARTA of the HUF can i nominate now itself my wife or a particualr child or even myself in that WITHOUT actually breaking the HUF .
No, because HUF continues even after death of any of its members/KARTA
any other way i can do it
As such not necessary........ because HUF doesn't get closed or block by demise of any of its member/s, till it reduces to single coparcener......
HUF property is co-owned by all its existing members, lasting upto next 4 generation......
and after 4 generations what happens of that ?
HUF has to be dissolved, and the assets gets distributed amongst the prevailing members......
CAclubindia
