A PROPERTY WAS PURCHASED BY THE HUF AND TWO OTHER INDIVIDUALS JOINTLY. THE SAID LAND WAS ACQUIRED BY THE GOVT AND COMPENSATION PAID. CAN WE OPEN JOINT SAVING ACCOUNT OF ALL THE PROPERTY HOLDERS AND DISTRIBUTE THEIR SHARE OF THE COMPENSATION AS PER LAND HOLDING SHARE IN THEIR REGISTRY.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 16 January 2019
No. Banks do not open joint account with HUF.
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