Search Results For: Hindu Law


QUERY: What is the effect of Hindu Succession (Amendment) Act, 2005 in respect of right of daughter in HUF property?
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The Hindu Succession Act, 1956 has been amended in the year 2005 with a view to give daughter on birth, same right as a son on his birth. Consequently, the daughter has the right to be a co-parcener and also right to claim partition or vest her individual property in the HUF. These are important right hitherto denied to daughters, The amendment takes effect from September 9, 2005.

QUERY: The HUF ‘s pool is empty. It consists of husband & wife only. Can it be formed with gift from relatives etc.
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C. Krishna Prasad v. CIT [97 ITR 493], the Supreme Court clarified that family signifies a group plurality of persons is an essential attribute of a family

QUERY: As per F. No. 4-2/2014 –NCM., G.O.I. Ministry of Minority Affairs, dated February 6, 2014, Jain Community are covered under section 2(c) of National Commission of Minority Act 1992 as minority. So, can Jain continue with HUF under the Income-tax Act?
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There is no restriction on Jains to be assessed under the status of “HUF” under the Direct Tax laws, even though Jain community has been declared as a minority community.

No separate definition of the expression HUF has been attempted in any of the Direct Tax laws because the term has a definite connotation under the Hindu Law.

QUERY: What is the Law laid down by Hon. Supreme Court in respect of impartible estate of HUF property?
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Section 6 of the Hindu Succession Act, 1956 as it stood before its substitution by the Hindu Succession (Amendment) Act, 2005 w. e. f. September 9, 2005 is reproduced as under:

QUERY: My wife expired in 2006, left certain gold ornaments & jewellery for my son, who is Indian Origin, U. S. Citizen. Please inform how much worth ornaments can be taken outside India?
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From the fact, it is clear that querist’s son is Indian origin, U. S. Citizen, who has inherited certain gold ornaments and jewellery from his mother.

As per sub-regulation (2) of regulation 4 of Foreign Exchange Management (Remittance of Assets) Regulations, 2000, a Non-Resident Indian (NRI) / Person of Indian Origin (PIO), may remit an amount,

QUERY: ‘X’ has taken one lakh rupees as a Cash Gift from his own brother’s son, whether taxable or not?
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Section 56(2)(vii) of the Income-tax Act, 1961 reads as under:

“Where an individual or a Hindu Undivided Family receives, in any previous year,

QUERY: A HUF was having a house property which was let out and rent was charged under the head ‘Income from House Property’ on which tax was paid. The said property was sold for Rs. 30/- lakhs which the HUF wants to invest in the name of coparcener (daughter). Whether HUF is entitled to get benefit under section 54F of the Income-tax Act, 1961 as coparcener is a part of the HUF?
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According to me no benefit would be available to the HUF if it invests in the name of coparcener. Under section 2 (31) read with section 4 the HUF as well as coparcener are separate assessable entities. This view is supported by the decision of Income Tax Appellate Tribunal, Nagpur Bench in ITO vs. Prakash Timaji Dhangode [258 ITR (AT) 114], where the Tribunal has held as under:

QUERY: What is the Law laid down by Hon. Supreme Court in respect of impartible estate of HUF property?
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an estate, which is impartible by custom, cannot be said to be the separate or exclusive property of the holder of the estate. If the holder has got the estate as an ancestral estate and he is succeeded to it by primogeniture, it will be part of the joint estate of the undivided Hindu family