Female member as a karta of huf

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2018 RESPECTED SIR,
THERE ARE 2 MEMBERS IN A H.U.F "THE MOTHER AND THE SON". AT PRESENT THE SON IS THE KARTA OF HUF.

SIR,THE SON DESIRES TO WITHDRAW AS A KARTA OF HUF AND TO APPOINT HIS MOTHER AS A KARTA OF THE SAID HUF.
SIR, IS IT POSSIBLE ? IF YES PLEASE LET ME KNOW THE PROCEDURE.

SIR, HOW THE BANK ACCOUNT OF THE SAID HUF WILL BE OPERATED ?

PLEASE GUIDE ME

WITH REGARDS

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2018 SIR, PLEASE GUIDE MEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

Asha Kanta Sharma online

Asha Kanta Sharma

(Expert)
Follow

07 July 2024 Yes, it is possible for the son to resign as the Karta of the HUF and for the mother to be appointed as the new Karta. Here's a general procedure to follow:

### Procedure to Change Karta in HUF:

1. **Resignation by Current Karta:**
- The current Karta (son) needs to express his intention to resign from the position of Karta of the HUF. This can be done through a formal letter of resignation stating his decision.

2. **Appointment of New Karta:**
- After the resignation of the current Karta, the HUF members (in this case, the mother and any other coparceners if applicable) need to appoint the new Karta (the mother).
- This appointment should be documented through a deed of declaration or a resolution passed by the HUF members.

3. **Notification to Relevant Authorities:**
- Notify the bank where the HUF operates its account about the change in Karta. Banks typically require a resolution or deed of declaration along with an updated list of authorized signatories.

4. **Bank Account Operation:**
- Once the new Karta (mother) is appointed and the necessary documentation is provided to the bank, the bank account can be operated by the new Karta.
- The new Karta will have the authority to conduct transactions and manage the funds of the HUF.

### Additional Considerations:
- **Legal Documentation:** Ensure that all changes are documented properly through a deed of declaration or a resolution.
- **Tax Implications:** Consult with a tax advisor to understand any tax implications related to the change in Karta.
- **Compliance:** Ensure compliance with any legal or regulatory requirements applicable to HUFs and banking operations.

By following these steps and ensuring proper documentation, the transition of Karta in the HUF can be effectively managed, allowing the mother to assume the role of Karta and manage the affairs of the HUF accordingly.

Upgrade to CAclubindia Pro. Subscribe Now!