Hindu undivided family (abbreviation: HUF) is a legal term related to the Hindu Marriage Act. Due to the development of Indian Legal System, of late, the female members are also given the right of share to the property in the HUF. In CIT vs Veerappa Chettiar, 76 ITR 467 (SC), Supreme Court had occasion to decide on an issue whether after the death of all the female members in a HUF, the HUF would still exist.
Read more about Hindu Undivided Family: Powers of Karta or Manager Regarding Joint Family Property, Powers of Manager, Female Coparceners, Liabilities of The Members of A Joint Hindu Family, Position of A Banker in Extending Credit Facilities, HUF As A Partner in A Partnership Firm
Famous quotes containing the words undivided and/or family:
“The self ... might be regarded as a sort of citadel of the mind, fortified without and containing selected treasures within, while love is an undivided share in the rest of the universe. In a healthy mind each contributes to the growth of the other: what we love intensely or for a long time we are likely to bring within the citadel, and to assert as part of ourself. On the other hand, it is only on the basis of a substantial self that a person is capable of progressive sympathy or love.”
—Charles Horton Cooley (1864–1929)
“My ambition for station was always easily controlled. If the place came to me it was welcome. But it never seemed to me worth seeking at the cost of self-respect, or independence. My family were not historic; they were well-to-do, did not hold or seek office. It was easy for me to be contented in private life. An honor was no honor to me, if obtained by my own seeking.”
—Rutherford Birchard Hayes (1822–1893)