S. Gupta-Junak (Chartered Accountant) (30 Points)
10 February 2010
Can an individual be a member of two or more HUFs, each comprising of ancestral property inherited from different ancestors eg. maternal and paternal property? If so, what is the relevant section of the Hindu Act and/or the Income Tax Act? My email address is sgj @ gmx.net.
S.Gupta-Junak, ACA
mrinaal
(intern,ipcc just clear)
(44 Points)
Replied 19 March 2010
helo sir,
as per mitakshara school of HUF no individual can be a part of two or more HUF....HUF operates by succession and not by any contract. any flow of maternal property will be governed by a contract formed under INDIAN SUCCESSION ACT,1925.so huf wont come in picture....
BUT one interesting case is gay marriage...in which case i guess there could be an individual becoming a member of two HUFs...thou no judgement in this regard has been passed!!!
CAclubindia
