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Hindu Succession Act - Partition of Joint Family Property
3 years ago
Father (A) receives a property vide partition of Joint Family Property / HUF property.
1. Can an after-born son (S) of A, i.e. born after partition, claim a share in this property during the life-time of the father (A)?
2. Can the father (A) Will this property received vide partition to individuals other than his son (S)?
Clarification: All the events, that is, acquisition of property & partition of joint family property have all taken place after passing of Hindu Succession Act, 1956.
Sourav Ghosh
Responded 3 years ago
A.Father is the absolute owner of property so partitioned..during the lifetime father may give his shares to anybody..till he alive, no legal heir can take father's share without his consent..this is law. To give correct opinion, I need to clear more things, including verification of partition deed
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A.Dear Sir,
All HUF Assets Should Be Taken As Joint Property Unless Proven Otherwise: SC [Read Judgment]...
What is a HUF or Hindu Undivided Family?
A HUF or Hindu Undivided Family (HUF) consists of all person lineally descended from a common ancestor and includes their wives and unmarried daughters. Usually, a joint Hindu family would consist of a male Hindu, his wife and his unmarried daughters. The daughter ceases to be a member of her father’s family on marriage and becomes a member of her husband’s family. However, the existence of a joint estate is not an essential requisite to constitute a joint family. A joint Hindu family or Hindu Undivided Family can also consist of a single male member and widows of deceased male members.
Requirement to Form HUF
A Hindu Undivided Family must consist of atleast two members to constitute a joint family. The existence of estate or property is not an essential requirement to form a Hindu Undivided Family. Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family.
Note: Jain and Sikh families though are not governed by the Hindu Law, can be treated as a HUF for Income Tax purposes.
HUF under Income Tax Act
A HUF is recognized under Income Tax Act as a separate assessable entity if two conditions are satisfied:
• There should be a coparcenership.
o Coparcenery is joint inheritance or heirship of property. Coparcenership is said to exist in a Hindu Undivided Family if the right to joint enjoyment, the right to call for partitition and the right of survivorship is held in coparcenary.
• There should be a joint family property which consists of ancestral property, property acquired with the aid of ancestral property and property transferred by its members.
o Ancestral property is any property which a man inherits from any of his three immediate male ancestors, i.e. his father, grandfather and great grandfather. Property inherited from any other relation is not treated as ancestral property.
Finally, it is important to note that once a joint family income is assessed as that of HUF, it continues to be assessed as such in subsequent assessment years till partition is claimed by coparceners.
Benefits of Forming HUF
One of the major benefits of forming a HUF is that a HUF is considered a separate legal entity and is thus eligible to obtain a PAN card and have a bank account opened in the name of the HUF. A HUF can be easily formed and once formed, the “karta”, usually the oldest male head of the family, is provided additional basic tax exemption of Rs. 1.8 lakh per year, along with the benefit of lower tax slabs, i.e, 10% tax on income up to Rs. 5 lakh and 20% up to Rs. 8 lakh.
If my answer is helpful to you then please give my FIVE STAR
All HUF Assets Should Be Taken As Joint Property Unless Proven Otherwise: SC [Read Judgment]...
What is a HUF or Hindu Undivided Family?
A HUF or Hindu Undivided Family (HUF) consists of all person lineally descended from a common ancestor and includes their wives and unmarried daughters. Usually, a joint Hindu family would consist of a male Hindu, his wife and his unmarried daughters. The daughter ceases to be a member of her father’s family on marriage and becomes a member of her husband’s family. However, the existence of a joint estate is not an essential requisite to constitute a joint family. A joint Hindu family or Hindu Undivided Family can also consist of a single male member and widows of deceased male members.
Requirement to Form HUF
A Hindu Undivided Family must consist of atleast two members to constitute a joint family. The existence of estate or property is not an essential requirement to form a Hindu Undivided Family. Under Hindu Law, an HUF is a family which consists of all persons lineally descended from a common ancestor and includes their wives and unmarried daughters. An HUF cannot be created under a contract, it is created automatically in a Hindu Family.
Note: Jain and Sikh families though are not governed by the Hindu Law, can be treated as a HUF for Income Tax purposes.
HUF under Income Tax Act
A HUF is recognized under Income Tax Act as a separate assessable entity if two conditions are satisfied:
• There should be a coparcenership.
o Coparcenery is joint inheritance or heirship of property. Coparcenership is said to exist in a Hindu Undivided Family if the right to joint enjoyment, the right to call for partitition and the right of survivorship is held in coparcenary.
• There should be a joint family property which consists of ancestral property, property acquired with the aid of ancestral property and property transferred by its members.
o Ancestral property is any property which a man inherits from any of his three immediate male ancestors, i.e. his father, grandfather and great grandfather. Property inherited from any other relation is not treated as ancestral property.
Finally, it is important to note that once a joint family income is assessed as that of HUF, it continues to be assessed as such in subsequent assessment years till partition is claimed by coparceners.
Benefits of Forming HUF
One of the major benefits of forming a HUF is that a HUF is considered a separate legal entity and is thus eligible to obtain a PAN card and have a bank account opened in the name of the HUF. A HUF can be easily formed and once formed, the “karta”, usually the oldest male head of the family, is provided additional basic tax exemption of Rs. 1.8 lakh per year, along with the benefit of lower tax slabs, i.e, 10% tax on income up to Rs. 5 lakh and 20% up to Rs. 8 lakh.
If my answer is helpful to you then please give my FIVE STAR
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A.A-1 YES, after-born son (S) of A, i.e. born after partition, claim a share in this property during the life-time of the father (A) .......but his son (S) cannot again claim for property of A's Father as the ancestral property is already given to A
A-2 YES, the father (A) can make a "WILL" of this property received in partition to individuals other than his son (S) .....as FATHER is now the ABSOLUTE OWNER of this Property.
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ADV. ANISH PALKAR (High Court)
A-2 YES, the father (A) can make a "WILL" of this property received in partition to individuals other than his son (S) .....as FATHER is now the ABSOLUTE OWNER of this Property.
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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