Question

Identify which statement is true and which is false?
1. Any person can become member of HUF.
2. In a HUF business, in the event of death of any of the co-parcener, his wife can claim share of profit.
3. In a HUF business, the liability of the karta is Unlimited.
Select the correct answer from the options given below.

• A. 2 and 3
• B. 1 and 3
• C. 3 and 2
• D. None of the above

Answer 1

Answer: (A)

2 and 3

The statement fore mentioned are discussed below:

1. False. As per the Hindu Law all persons lineally descended from a common ancestor are members of a HUF.

2. True. In a HUF business in the event of death of any of the co-parcener , his wife can claim share of profit.

3. True. In a HUF busines the liability of the karta is unlimited.