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Ajay Raj Kamra (M S)     24 October 2010

HUF

My father had created  an HUF with himself as Karta and two other family members i.e I and my son as members. The PAN Card for the same has also been alloted and the threee names arre in Income Tax department too. There is no other member of HUF. He has opened HUF account in SBI and in the account opening form he has mentioned all the details of HUF members . The bank has made all the HUF members fill up one  supplementary form each

A question arises as to whether on the demise of HUF Karta (MY father) will I will be able to operate this account automatically as Karta or I still have to get succession certificate from the court. Please advise.

Thanks

Dr Ajay Raj Kamra

 

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 1 Replies

R.Ramachandran (Advocate)     24 October 2010

Neither any court order nor any succession certificate would be required as far as the HUF in question is concerned.  All that is required is that the other members of the HUF have to give a letter appointing you as the Kartha.  Thereafter, you can approach the Bank to change the name of the Kartha on the basis of the death certificate of the original kartha and also the letter appointing you as Kartha.

The bank has to accept the above documents and then permit you to operate the account as new Kartha of the HUF.


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