Huf
This query is : Resolved
15 May 2012
Dear Sir,
One of my clients has HUF in which he is karta. Sometime before his father has expired. His father also had HUF. After death of father he has become karta of that HUF also. Now he is karta in two HUF. My question is can a person become karta in two HUF.
Now his mother has also expired. Now he want to make partition of HUF of father among himself and his brother. What procedure we should adopt to make partition?
One of my clients has HUF in which he is karta. Sometime before his father has expired. His father also had HUF. After death of father he has become karta of that HUF also. Now he is karta in two HUF. My question is can a person become karta in two HUF.
Now his mother has also expired. Now he want to make partition of HUF of father among himself and his brother. What procedure we should adopt to make partition?
15 May 2012
A person can be a karta of two HUF. For the purpose of partition of HUF you will have to go for full partition and have to frame a deed of partition disclosing the division of HUF property among the members.
15 May 2012
I agree with the expert.
.
After partition, the property will go in the respective HUFs of two brothers.
.
In case, younger brother is still a bachelor, the property will be assessed in his Individual capacity till he gets married.
.
.
After partition, the property will go in the respective HUFs of two brothers.
.
In case, younger brother is still a bachelor, the property will be assessed in his Individual capacity till he gets married.
.
17 May 2012
In addition to above, For claim of full partition it must be recognise under the provisions of income Tax Act (sect. 171)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
