I want to make an HUF deed in which my father was the Karta of HUF. Now after his demise I want to become the Karta of the same HUF.
My query is do I have to make any monetary transaction with HUF since I will be becoming the Karta of HUF. The format of the HUF deed shows Gift to be received in cash/cheque to the new karta.
14 January 2023
Below is the format of the HUF deed I have got. From this deed can I remove the point number 2 of Gift received from HUF and execute the deed.
Please suggest.
DECLARATION
I, ________________ son Of __________________ Residing at ______________________ aged ___Adult do hereby declare-
1. That I am Karta of ___________________________________________ .
2.That I received on behalf of the H U F gift of Rs. ___________ by way of CASH/CHEQUE from my FATHER ___________________________(name of relative of karta of HUF) on dt. _______________ this formed the corpus of the HUF.
3. That the HUF at present is consisting of the followings members- I) Shri _____________________, Adult, Residing at _________________ II) Smt. _____________________, Adult, Residing at _________________ III) Kumari _________________-Minor, Residing at ___________________
4. That the above statements are true to the best of my knowledge & belief. Declare this on _________________
CAclubindia
