DIVISION OF HUF PROPERTY
This query is : Resolved
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.
25 September 2021
Dissolve the HUF, and divide the property with mutual understanding.
No capital gain in HUF dissolution.
No capital gain in HUF dissolution.
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