I have a query regarding HUF Formation. My father recently passed away. He had HUF Account.
1. Is it possible to form a HUF with myself, my mother, my elder sister and my wife?
2. If yes, who will be the Karta, Coparceners and Members?
3. Is it possible to file separate IT returns on HUF PAN?
4. There is no will from my father. The property which I receive due to inheritance will be treated as HUF?
5. Once the partition is done(at a later date), will my sister be part of HUF?
6. I have received amount from bank as a nominee in SB A/c, will it be treated as individual amount or HUF amount?
CAclubindia
