DIVISION OF HUF PROPERTY

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RAVINDER SINGH (Querist)
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27 January 2021 One of My client is 70 years old and is running manufacturing business in the name of HUF , His wife and two sons are members of his huf out of which one son is married and the other is single. There is land , building and Machinery in the name of business. He want to divide his land , building , machinery and other business assets among his sons. How can he do so and is there any involvement of Capital Gain.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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25 September 2021 Dissolve the HUF, and divide the property with mutual understanding.
No capital gain in HUF dissolution.

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