What is status of HUF on death of it's Karta. The HUF was having 5 members 1. Karta 2. his Wife 3. Elder son 4. Younger Son 5. Younger Daughter. Wife of Karta is also expired & both sons are married & are karta of their own HUF. Whether elder son can become karta of HUF of his father, even though he is karta of his own HUF.
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How can a buyer ascertain whether a seller is having tax dues ? what is the liability of a buyer who has bought property from a seller having tax dues ?
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SOME TRUCKS ARE REGISTERED UNDER HUF NAME UNDER SINGNATURE OF DECEASED KARTA. AFTER EXPIRY OF KARTA THE REMAINING MEMBER OF HUF ELECTED ELDER SON AS A KARTA OF FAMILY. HOW HAS AUTHORITY TO SALE TRUCKS. 1)PRESENT KARTA (MEMBERS ARE AUTHORISING) 2)WIFE OF DECEASED KARTA 3)ALL MEMBER OF HUF JOINTLY. THE RTO IS SAYING THAT 1) A SUCESSION CERTIFICATE IS REQUIRED TO TRANSFER OF VEHICLE. 2) FIEST TRUCKS WILL BE TRANSFERED TO WIFE OF DECEASED KARTA AND THEN THAT TRUCKS CAN BE SOLD OR TRANSFER TO THIRD PARTY. THE RTO IS REFUSING THE AUTHORITY OF NEW KARTA EVEN AFTER AFFIDAVIT BY…
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A practical issue has arisen, though it is not of Technical Nature, but of an Administrative Nature, causing the concerned CA many practical difficulties, especially considerable space of his Office being occupied by the bulky Records of the Assessee. A Partnership Firm has presently pending litigation under the Income Tax Act, 1961 related to around AY 2005-06. Its Partners have refused to take back all Records of that Firm related to that AY from CA’s Office despite repeated request by him from time to time for the reason best known to them. Can CA request the following Authorities / Court…
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A family comprising of Husband (SK), Wife (N) and a minor son (S) was assessed to tax as a Hindu Undivided Family(SK HUF). The husband expired and the HUF continued with the wife as manager as the son was still minor. The minor had his own income also which was being clubbed with his father, and after the death of the father the income was clubbed with his mother. The wife(N) got remarried to a divorcee (Y) who is having 2 daughters from his previous marriage. S, the minor son of the deceased SK and N is now not having…
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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?
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1) Who all have to be the signatories to the partition deed? 2) Whether daughter in law and son in law have to be signatories? 3) Whether grand children through son/daughter have to be signatories? 4) Whether spouse of the grand children through son/daughter have to be signatories? 5) What is the position vis a vis the great grand children (children of grand children through son/daughter)? 6) What is the position if any of the signatories is a minor? 7) If possible, please share a draft deed of partition. Thanks in advance
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Property consisting of a plot of land and building constructed afterwards on that , purchased from the funds of Father and elder son in the name of mother(fathers wife ,ie not ancestral property) 40 years back. A registered will was executed 20 year back jointly by father and mother distributing the property in the name of three sons (including one step son and excluding daughters)Now mother died recently. and father is still alive. Now the question is 1) Who are the real owners ie father son duo or mother. 2) Benami transaction act was not in force, hence property will…
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When the second wave of Covid-19 was at its peak and people were dying merely for the lack of oxygen beds in the country, the DGFT, vide Notification 4/2015-20 amended Para 2.25 of Foreign Trade Policy, 2015-20 allowing duty free imports of Oxygen Concentrators for personal use through post, courier or e-commerce portals in the list of exempted categories, where Customs clearance is sought as ''gifts", till 31 July 2021. No enabling provisions for relief has been made in any other laws till date. Assuming that an Oxygen Concentrator costs upwards of Rs. 1.5 lakhs, if an Oxygen Concentrator is…
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What should be done if the Karta of HUF is alive but becomes incapable of contracting?
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Status of HUF on Death of Karta having 2 sons as member (Wife of Karta also expired)