Death of Karta in HUF When the Karta of an Hindu Undivided Family passes away, the HUF continues its existence, and the responsibility of the Karta is assumed by the next senior male member of the family. The seniority determine based on the rules of succession within the family. Here are some key points to… Read More »
HUF taxation rules A Hindu Undivided Family (HUF) taxation rules is a legal entity recognize under Indian law and operates based on the principles of the joint family system. Here’s how an HUF typically works: Formation: An HUF is form when members of a Hindu family come together under a common ancestor and decide… Read More »
Can HUF give gift to its members Yes, a Hindu Undivided Family (HUF) can give gift to its members. As per the Hindu law, an HUF can make of its ancestral or self-acquired property to its members. The are typically given by the karta (head) of the HUF on behalf of the family. However, it’s… Read More »