Does HUF exist when all members (including the Kartha) of the HUF have always filed as individuals and have not filed as HUF or have accounts under HUF?
Veekay-Veekay (Other) 10 September 2015
Does HUF exist when all members (including the Kartha) of the HUF have always filed as individuals and have not filed as HUF or have accounts under HUF?
T. Kalaiselvan, Advocate (Advocate) 19 September 2015
When there is no HUF property where is the question of HUF?
What exacly is your question?
T. Kalaiselvan, Advocate (Advocate) 19 September 2015
When there is no HUF property where is the question of HUF?
What exactly is your question?
Are you concerned about the IT returns of HUF or the HUF property?
Are you a member of the said HUF?
Veekay-Veekay (Other) 23 September 2015
Thanks for your answer.
The question is really about property that has always been enjoyed as individual property and taxes have been filed on the property as an individual, but one of the coparcener (the only one alive and hence the kartha) is claiming that the individual properties of all coparceners have to be consolidated as HUF property, so he divide them as he sees fit.
The question really is when does an individual earned property become a HUF property:
- by virtue of filing income taxes as a HUF,
- coparceners living togeather under one roof regardless of their IT filing status
- All properties of all coparceners is HUF property unless explicitly stated
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