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Regarding HUF

Querist : Anonymous (Querist) 10 November 2010 This query is : Resolved 
I have a complicated problem at hand.
Mr X is father and having his own HUF. His son Mr.Y is also having his own HUF. Mr.X has died. Can both the HUFs operate separately? How will be the distribution of property etc, how will the returns be filed? Can the son open two demat accounts for two HUFs and operate them separately?
Report Abuse
R.Ramachandran (Expert) 10 November 2010
Dear Anonymous,
Please indicate who are the members of HUF 1 and HUF2.
s.subramanian (Expert) 10 November 2010
yes.
Kirti Kar Tripathi (Expert) 11 November 2010
yes.
Khaleel Ahmed (Expert) 16 November 2010
If there is no other heirs of Mr.X, then both have equal rights over the property left by Mr.X.

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