21 January 2011
MY self Sudip Raja. Residng at Gujarat State. Recentaly My younger Brother death.We are in joint family & we have propritery ship firm. So we have huf amount on my father name Mr. chandulal raja & he is also karta of above said huf. My quetion is that as per indian civil law & indian income tax law in above said huf amount my younger brother wife become a legal hair of this amount ??
22 January 2011
Sir, As per IT act share in your fathers HUF will go to your brothers HUF.Your brothers wife being the member of the HUF will also have her share.She will be also incharge of your brother's children's share until they become major. Moreover you should pay the balace the capital and current account of your brother to their family.
CAclubindia
