8 Points for Planning in HUF, also Women’s right in HUF

September 17, 2020

Posted on 17-09-2020

Since 1956, Hindu women being recognized as coparceners on equal footing with a male member (SC) Vineeta Sharma v Rakesh Sharma 11th Aug 2020.
Daughter as a coparcener can demand partition of her father’s HUF property. However, in her husband’s HUF she is member & not a coparcener and as such cannot demand partition, but she is entitled to a share in husband’s HUF
Gift by member to HUF – not taxable but Gift from HUF to member – controversial
Can s/54 exemption available if property purchase in members name from HUF’s capital gain – Yes but controversial
There can be an HUF comprising only of female members
Eldest Female can be a Karta – Sujata Sharma v. Manu Gupta [2016] 66 taxmann.com 28 but controversial
Relatives of Members of HUF is not covered under definition of relative for sec 56
Property devolved by partition or direct transfer to individual is individual property & not Child HUF’s.