28 October 2010
my father who was the karta passed away recently.my mother now wishes to become the karta along with her 2 daughters as members of the huf.what is the procedure.my fathers huf has property,shares and bank accounts with my mother as nominee.my mother wishes to continue the huf.
28 October 2010
Aryan, your mother wish to become karta alongwith two daughter. ( I want to know why you are not becoming the member of the HUF), Because atleast one male member is copulsory for HUF. You all 4 can form the HUF.
Otherwise incase of death of sole male member , so long as the property which was originally of the HUF remains in the hends of the widow of the member of the family and is not divided among them , the joint fafily continues.
28 October 2010
In your case the original HUF may be continued with your sisters having coparcinary rights only. The ladies in the case can't be karta. & they can't even make a new HUF together neither with nor without you
29 October 2010
sorry...ur nickname gave the impression that u r a male. well in that case, u can continue with the existing HUF. It has been held by the Allahabad High Court in CIT v. Sarwan Kumar 13 ITR 361 (All) that there can be an HUF consisting of female members only where a couple has only one issue—-a daughter—-and the husband passes away,the mother-daughter duo can continue the HUF
CAclubindia
