31 August 2022
My father is the karta of his HUF. Since he is not keeping good health, he wants to make me karta while he is still alive. Is is possible and what are all the formalities?
01 September 2022
Yes. It is possible, with the consent of all the family members [Narendrakumar J. Modi. vs CIT(SC); 1976 CTR 386(SC)]. But practically it is advisable to conduct the operations with GPA from existing KARTA.
CAclubindia
