Mr. Ravi Shankar, owner of chain restaurants, celebrates the occasion of marriage of his daughter. Can he gift HUF property to his daughter in her marriage? Discuss.
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Yes, because hindu undivided family business doesn't have separate legal existence. And also this business was owned, controlled and managed by the oldest member of that family , and the name of this person is Karta And then after the death of Karta, next oldest member of that family will be the Karta, this business is ancestral in nature. So, if Mr. Ravi Shankar wants to gift his HUF property to his daughter in her marriage then he can gave her. Because no legal formalities are required to transfer the control of the business.
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