| Question And Answer | |
|---|---|
| Subject: | HUF |
| Category: | General Law, Income-Tax |
| Querist: | A.S DUSIJA |
| Answered by: | Research Team |
| Tags: | death of co -parcener, HUF |
| Date: | August 7, 2021 |
In an HUF account, if a co-parcerner passes away, I have 2 queries:
1) Are his wife & daughter entitled to his share in the HUF?
2) Can the Karta of the HUF decide how to distribute the deceased co-parcerner’s share?
Death of Co parcener HUF will not come to an end Refer , Shreya Vidyarthi v. Ashok Vidyarthi and Ors. AIR 2016 SC 139 , the concept of HUF and property jointly held explained . Wife and daughter will continue as members of the HUF. Karta need not distribute the share of deceased Coparcener it devolve on the existing members by operation of law , HUF status continue . We presume the HUF is assessed to tax ,if the members desires to distribute the assets of the HUF they can do so, by total partition and also ,make an application u/s 171 of the Act to the Assessing Officer . The distribution of assets need not be equal . It may be desirable to verify the applicability of the stamp duty of respective State while drafting the partition deed .