CAN SUCCESSOR OF FEMALE MEMBER FORM H U F ?

JAYESH G YAGNIK (Querist) 14 March 2010 This query is : Resolved
MY WIDOW MOTHER OWNED ANCESTRAL ( MY FATHER'S AND HIS FATHER'S)PROPERTY AND SHE DIED IN 1995. THE PROPERTY WAS IN HER NAME AFTER MY FATHER'S DEATH. I AM THE ONLY SON AND HAVE A MARRIED SISTER. NOW THE PROPERTY IS ALREADY TRANSFERED IN MY NAME AFTER MY MOTHER'S DEATH. I SOLD THIS PROPERTY IN 2008. NOW CAN I SHOW THE SALES PROCEED RECEIVED AS MY H U F CAPITAL GAIN?
SOME ONE TOLD ME THAT FROM A LADY IF THE PROPERTY IS RECEIVED TO ANY MALE MEMBER (SON) CANT FORM H U F?
IS IS NECESSARY THAT THE PROPERTY SHOULD COME FROM A MALE MEMBER IN MY HANDS TO FORM A H U F? MY FAMILY CONSIST OF ME + WIFE AND 2 SONS.
PLEASE GUIDE...
jayeshgyagnik58@yahoo.co.in

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