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HUF PROPERTY LAW
Can your co-owner sell a property without asking you? The answer depends on this one decision- Calling property ‘ancestral’ isn’t enough: Courts demand clear chain of title and documentary proofCourts now demand concrete proof for ancestral property claims. Simply calling property ancestral is insufficient. Claimants must establish...
- Can a Karta sell joint family property to one relative? Here’s what the law allowsThe Supreme Court upheld a Madras High Court ruling stating a Karta cannot transfer joint family property to one member without genuine nec...
- Ancestral land sale: Tax department issues notice over Rs 8 crore share, taxpayer wins case in ITAT Delhi; here's what happenedA man received Rs 8 crore from the sale of ancestral land, but the tax department issued a notice for tax evasion. The Income Tax Appellate...
- House property received by an individual as a gift is taxable in these situationsGifting property to close family isn't taxed for the recipient, but rental income tax depends on the relationship. Gifts to spouses or daug...
- Can your wife become the karta of your HUF after you pass away?Any woman who enters the Hindu Undivided Family by way of marriage is only considered a member and not a coparcener. Hence, wives and daugh...
- Private Trusts Vs HUFs: Which suits your needs to pass on assets to legal heirs?Will, gift deed, private trusts are some of the most commonly used methods that an individual can use to pass on the assets to his/her fami...
- What is the process of dissolving an HUF (Hindu Undivided Family)?Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
- Supreme Court examines if illegitimate child has right over ancestral propertyAs some of the contesting counsel veered towards a consensus that under Section 16(3) of the Hindu Marriage Act, 1956 a child born to a voi...
- My husband was the karta of our HUF; he passed away. Can I take over as the karta till my sons become adults?Readers' estate planning queries answered.
- After death of karta in the Hindu Undivided Family (HUF), can his wife become a karta?Readers' estate planning queries answered by Raj Lakhotia, Founder, Dilsewill.
- Should the HUF be phased out?ET Wealth talks to experts to draw out opinions on both sides of the argument on whether HUFs should be phased out.
- HUF can help you save substantial income tax: Here's howAn HUF is treated as a separate tax entity; it enjoys a separate basic tax exemption of Rs 2.50 lakh in addition to separate tax exemption ...
- Can a married woman be a part of two HUF accounts?Find answers to common estate related queries which most of the people face in their lives.
- My grandfather died due to covid. Does my mother have right to covid aid received?Your mother and her siblings, being Class I legal heirs, are entitled to an equal share in all the moveable and immoveable properties of th...
- The most tax-efficient investment strategies for an Indian HNITo save taxes and plan investments, HNIs can create HUFs, form LLPs or family trusts.
- Hello Dear HNI, here’s how to reduce your tax liabilityHowever, the Indian Income Tax Act also, provides several avenues to taxpayers to reduce their tax liabilities in a legitimate manner. Some...
- Tax saving tool HUF may cease to exist: Law Commission proposes to abolish itOn income earned, the Hindu Undivided Family is taxed on the same slab rates applicable to an individual.
- Formation of HUF for tax benefit: All you want to knowAn HUF is automatically constituted after marriage. It can also be formed by partition of an existing HUF into multiple units.
- How to use HUF for as a tax planning toolThe Hindu Undivided Family structure is a great tax planning tool that can divide your tax liability and multiply the benefits. Find out ho...
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