My father created HUF some 25 years back. He was paying income tax on my minor HUF account. He passed away in 2009. We brothers have partitioned. I retired from service in 2009. I have been filing returns on both individual and HUF status. My son does not want to continue under the HUF and wants the status to be dissolved, and have only one individual account. Is there provision for such dissolution and what is the procedure?
1.HUF is dissolved only on the partition of property between the members. Please note partly partition of HUF is not approved . Partition means full partition. Draw up a deed of family partition and register the document in sub-registrar office.
2.after the execution of registered PD ur son can have only one individual account and HUF status will not be there.
When admittedly you brothers have partitioned, there is no existance of HUF any longer as the Hindu Undivided Family's property has been partitioned.
Members of HUF:- Every person by birth becomes the member of HUF. Unmarried daughter is member till her marriage. After marriage she will become the member of inlaw’s HUF(s).
Dissolution of HUF:- Dissolution of HUF occurs when partition of HUF’s property is done.Partition of HUF can be done at any time i.e. either on Survival of Karta or on death of Karta. Partial Partition of HUF is not allowed as per Income Tax Act 1961.
Who will be next Karta in case of death of original Karta:- Normally, the senior- most member of the family acts as karta. However, a junior male member can also act as karta with the consent of the other members.
A Family consists of:- Father, Mother & Two Sons
If father dies than elder son will become next karta.
A junior coparcener can become the Karta if all coparcener agreed.
A Family consists of: – Father, Mother & Two Daughters
If father dies than widow wife will become next karta.
A Family consists of: – Father, Mother & minor son
If father dies than minor son will act as a Karta through his mother as guardian ( Budhi Jena v. Dhobai Naik)
A Family consists of: – Father, Mother & minor son
If father & mother dies than the minor child will be the karta of HUF.
Since you and your brothers have partitioned there is no existence of HUF then no need to dissolve it.file returns induvidually
1. On the death of your father, his HUF continued and his oldest child became the karta after his death.
2. HUF status ceased to exist as soon as you and your brothers partitioned the property which was undivided in character. If the partition between you and your brothers was conclusive and legally proper there is no HUF in existence now. The severance of undivided status is not an irreversible phenomenon, albeit the property which has already been partitioned by you and your siblings cannot be partitioned again by your son. Unless and until the HUF status is acquired again by you and your siblings your son cannot partition the same. So the answer to your question is NO.
Hi, you have to make partition of your property under registered partition deed.
since partition has taken place on your father demise in 2009 there is no HUF in existence now .
I presume deed of partition has been drawn up duly stamped and registered
Dissolution of HUF occurs when partition of HUF’s property is done.Partition of HUF can be done at any time i.e. either on Survival of Karta or on death of Karta. Partial Partition of HUF is not allowed as per Income Tax Act 1961.
Hence in your case, HUF ceased to exist as soon as your brother partitioned the property.
If the partition is between you and your brother is according to law, which means that a proper partition deed duly registered and stamped then there is no existence of HUF.
as you mentioned that there is partition between you & your brothers but partition shall be duly registered & stamped. if it is there is no existence of HUF
