29 September 2008
I want to form a HUF Pls guide with following details: 1) House Property reced. by my father from his parents. 2) want to make Karta to my father 3) is there any coparcener deed mandatory for formation of HUF? 4) I need Coparcenership deed formate ? 5) Any other formalities require to form HUF 6) is Documents related to formation need to submit before any authority?
29 September 2008
1) Are his parents alive? Is it the self acquired propery of the parents? 2) It depends upon answer to question 1. 3) No deed. HUF is formed naturally. 4)Does not arise. 5) Not other than the natural formation through property devolution from paternal ancestors. 6)Proof that HUF exists has to be submitted to IT authorities if it is intended to create HUF file.
01 October 2008
Dear S. Sriniwasaraghvan, I want to form HUF for my father. Property is in the name of my grand mother but she is no more. Yes this property is made by taking loan in the name of my Grand mother. Ur answer for point 6 that "Proof that HUF exists has to be submitted to IT authorities if it is intended to create HUF file" is not so clear please clarify the same.
04 October 2008
If your father has received the property as a legal heir to his mother then the propery can not be termed as HUF property. If on the otherhand the property itself was a HUF property held by your grand mother along with her husband (your grand father)then it can be a HUF property. Moreover, there has to be a HUF consisting of you your father and mother that should have received the property.
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