In my first article on HUF & Tax Planning which was published on 4th June, 2015 I had discussed ” What is HUF? & How to create HUF?“ and in my second article on HUF & Tax Planning which was published on 19th June, 2015 I had discussed “How to reduce Tax Liability using HUF?“. In this article I have discussed other legal aspects of HUF & Disadvantages of HUF.

Legal Aspects of HUF:

Rights on Income & assets of the HUF:

HUF property and income are considered to be property and income of joint family and not of karta. So karta as a signing authority becomes manager of the joint family assets and income but he does not become owner of the joint family property.