Author
Bijal Ajinkya is a Partner in the Direct Tax, Private Client and Investment Funds Practice Groups in the Mumbai office.
The joint Hindu family or Hindu undivided family (HUF) is a structure recognised in Hindu customary law where the family members traditionally shared a common roof and conducted family business together. Property such as cash, securities, investments, business assets and land was jointly held for the benefit of the larger family. The Hindu coparcenary is an institution recognised by the Mitakshara School of Hindu law and is a narrower body than the Hindu joint family and is restricted to a maximum of 4 generations. Traditionally, only a son born (or adopted) in the joint Hindu family was considered a ‘coparcener’, i.e. one who has a share in the joint family property by virtue of his birth in that family.
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