I am part of my father’s HUF. Can I have one more HUF?
1 min read 06 Aug 2021, 09:03 AM ISTSo while being a member of your father’s HUF, you can also have your own HUF consisting of yourself, your wife and your children including a girl child
PremiumI am part of my father’s HUF. Can I have one more HUF consisting of me, my wife and my daughter? Can I become Karta of both the HUF at the same time?
As pre the Hindu laws an HUF can consist of four generations consisting of descendent of one common male ancestor. So more than one generations can be part of the same HUF at the same time. Within a larger HUF there can be many smaller HUFs also consisting of family of the coparceners. So a person can be a member of more than one HUF at the same time. For example, he can be a member of his own HUF, HUF of his father, HUF of his grandfather and HUF of his great grandfather at the same time.
So while being a member of your father’s HUF, you can also have your own HUF consisting of yourself, your wife and your children including a girl child. Since more than one coparcener are necessary for constituting an HUF for income tax purposes and since daughter are also treated as coparcener after the amendment of Hindu Succession Act in 2015, your family consisting of you, your wife and the daughter will constitute an HUF distinct and different from your father’s HUF.
There is no restriction on one person becoming Karta of more than one HUF. Since only a coparcener can become Karta of an HUF and since you are a coparcener of both the HUF, you can become and remain Karta of both the HUF at the same time.
Balwant Jain is a tax and investment expert and can be reached at jainbalwant@gmail.com
