LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Anupama (Advocate)     12 November 2009

Assessment in the status of HUF

Does HUF disrupt on death of karta leaving behind his spouse and married daughters for Taxation purpose, the karta being an assessed under the status of HUF post amendment to Hindu Succession Act, 2005.



Learning

 6 Replies

A V Vishal (Advocate)     12 November 2009

No, the wife of the deceased can partake the nature of Karta

Vineet (Director)     13 November 2009

Wife of the deceased is not a corarcener, hence she cannot assume role of Karta except as natural guardian of minor coparcener.

In this case as there are two adult coparceners (Daughters post 2005 Amendment), the HUF may contnue with elder daughter as Karta of HUF.

Vivek Mehta (Student)     13 November 2009

 Wife of A Diseased Karta of HUF can assume the position of Karta n can b assessed in the status of HUF under IT Act, 1961 only when there is a legal succession of the HUF i.e. if There is a son of the Karta n that too he is a minor...else the wife of Karta cannot take the place of diseases Karta in HUF

Vineet (Director)     13 November 2009

Dear Vivek,

Post 2005 amendment, both son and daughter have equal coparcenary rights.

Y V Vishweshwar Rao (Advocate )     16 November 2009

I request lrd friends to suggest ;-

whether  the  married daughter can be Kartha of HUF inrespect of Immoveabel Proerties - post amendment 2005 . if so whether she can manag and can  sell the HUF  properties  as Kartha of HUF Properties .

Vineet (Director)     17 November 2009

In my opinion, once the daughter has been granted coparcenary rights, she can very well become Karta of the HUF.

Further, she will have all rights in respect of assets of HUF enjoyed by Karta.


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register