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Jitesh Kumar Jain   05 April 2020

H.U.F RELATED..

Can coparcener of a particular H.U.F. get d Bank statement of H.U.F.'s Bank Account ?

For Example:
My Father is d KARTA of a H.U.F.
& i being his son is coparcener of dat H.U.F.
I need d Bank Statement of dat H.U.F. Account..
Can i get dem ?
& How ?
watz d procedure for d same..

Thanks & Regards


Learning

 9 Replies

Real Soul.... (LEGAL)     05 April 2020

If the bank account is in the name of your Father he can alosne get statement of the account. If the account is joint family account then the memebrs authorised to do so or who operate the account can alone get satement. however you can request to your father to provide you the SAO

Jitesh Kumar Jain   05 April 2020

i think, Everywhere, Bank Account of H.U.F is operated only By KARTA..
M asking:
Do coparcener have any legal Rights or Bank rights to get d SAO (STATEMENT OF ACCOUNT) for d H.U.F Bank Account..
&
Father / Karta will nof give SAO..
Den how ??

G.L.N. Prasad (Retired employee.)     05 April 2020

As per my knowledge, in the case of joint families, the Karta gives such a HUF letter informing the name of coparceners.  If you have a valid reason you can write a letter and seek such a statement from Bank account, and the bank may refer the matter to KARTA, and depending on their discretion they may provide a bank account statement, as KARTA is only a trustee of that account...

P. Venu (Advocate)     05 April 2020

You have been posting too may a query. What is the real issue?

Jitesh Kumar Jain   05 April 2020

VENU SIR ji.. Can i get ur Mobile No. if u dont think otherwise..

T. Kalaiselvan, Advocate (Advocate)     07 April 2020

Karta of a HUF is the senior most male member of the family and in financial terms he can also be called manager of the family. In this account a corpus is created where every family member can pool their income. The corpus will be handled by or authorized to handle by Karta (head of the family). Signature of karta will be required for every transaction from the bank. These accounts are similar to individual saving bank accounts; there will be various tax benefits that are available for an individual’s account while the income of members is being pooled in HUF account.

T. Kalaiselvan, Advocate (Advocate)     07 April 2020

Documents required for opening HUF account:-
There are few documents that will be required for opening an HUF account.
  • HUF will have a unique PAN card; this PAN card along with the PAN of Karta should be produced.
  • A declaration form will be provided where every member has to make a signature stating the name of Karta and declare
    1. They are the only members of HUF.
    2. Karta to have sole authority over HUF account
    3. Every transaction on behalf of HUF account, made by each member of the family is governed by karta.
  • Residential proof of Karta
  • Identification proof of Karta
Apart from the points mentioned above there can be other documents or conditions depending on the bank where HUF account is opened.

T. Kalaiselvan, Advocate (Advocate)     07 April 2020

The corpus will be handled by or authorized to handle by Karta (head of the family). Signature of karta will be required for every transaction from the bank. These accounts are similar to individual saving bank accounts.

Hence the rules for obtaining the bank statment will be as applicable to the individual accounts.

T. Kalaiselvan, Advocate (Advocate)     07 April 2020

  1. Karta to have sole authority over HUF account
  2. Every transaction on behalf of HUF account, made by each member of the family is governed by karta.

Hence the members may not have any right to obtain bank account statement, the bank may not oblige. 


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