Anil
21 March 2012 at 18:14
Practical Case of my close relative
Mr. Patel is 66 yr old man. Mrs. Patel - wife of Mr. Patel died 4 yrs ago. They have 4 daughters all are married. Now Mr. Patel is the only member in the family.
Situation: MR. PATEL owns Agricultural Land (mainly ancestral - received from his father and some purchased by him) and has few lakh rupees of cash in FDs. He is a retired employee and receives income from monthly pension.
Questions: Can Mr. PATEL form an HUF? How? Then it would be one member HUF as all daughters are married.
If yes, Can he transfer the agricultural land to the HUF? How?
What will happen to the HUF property after death of Mr. PATEL? How all daughters would get it?
Thanks in advance to all experts.
Looking for your practical valulable advise.
Regards
Mr. PATEL
Huf
Practical Case of my close relative
Mr. Patel is 66 yr old man. Mrs. Patel - wife of Mr. Patel died 4 yrs ago. They have 4 daughters all are married. Now Mr. Patel is the only member in the family.
Situation: MR. PATEL owns Agricultural Land (mainly ancestral - received from his father and some purchased by him) and has few lakh rupees of cash in FDs. He is a retired employee and receives income from monthly pension.
Questions: Can Mr. PATEL form an HUF? How? Then it would be one member HUF as all daughters are married.
If yes, Can he transfer the agricultural land to the HUF? How?
What will happen to the HUF property after death of Mr. PATEL? How all daughters would get it?
Thanks in advance to all experts.
Looking for your practical valulable advise.
Regards
Mr. PATEL