Dissolution of huf
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?
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Answers (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. After the execution of registered PD ur son can have only one individual account and HUF status will not be there.
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