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Huf
Huf
By
Mr.B.Prem kumar
WHAT IS HUF?
It is obvious that a non-Hindu family cannot get this status.
So, A Parsi, Muslim or Christian cannot create a HUF.
So, what is a HUF?
The term 'Hindu Undivided Family' has not been defined
under the Income Tax Act. It is defined under the Hindu Law
as a family that consists of all persons lineally descended from
a common ancestor, including wives and unmarried
daughters.
This means that a membership into a HUF does not come
from a contract but from status under hindu law.
A HUF cannot be formed by a group of people who do not
constitute a family; lineal descendents with a common
ancestor is a must.
Even though Jain and Sikh families are not governed by the
Hindu law, they can still be treated as a HUF.
DAYABHAGA AND MITAKSHARA
SCHOOL OF LAW
Under the Dayabhaga system,the father is the sole
owner and the exclusive possessor of the joint family
property. No member can enforce the partition of the
HUF so long as the father lives.
Karta
Others Member:
all female members of the family are called Members
Karta
1. Karta is the senior most male member of the
family
Accounting to law