Huf
This query is : Resolved
25 November 2013
Dear Sir,
A HUF have some shares in there books. HUF Consists of four members. they want to gift these shares to one of the member. can they do so ??if yes what is the process. If no what is the other way out.
Plese reply.
A HUF have some shares in there books. HUF Consists of four members. they want to gift these shares to one of the member. can they do so ??if yes what is the process. If no what is the other way out.
Plese reply.
25 November 2013
HUF can gift the shares to the members but it will attract the provisions of partial partition, which is not recognised by the IT Act. Income from the shares or from the amount received on sale of shares is required to be added back in HUF.
.
The better way is to sell off the shares whenever a good price is fetched.
.
You can divide the capital gains as the same is called distribution of income.
.
.
The better way is to sell off the shares whenever a good price is fetched.
.
You can divide the capital gains as the same is called distribution of income.
.
26 November 2013
If all members give NOC then???
26 November 2013
Then.... shares can be gifted. There is no restriction on transfer of shares, but -
the problem which may arise -has already been discussed in the earlier reply.
.
the problem which may arise -has already been discussed in the earlier reply.
.
26 November 2013
If all members give NOC then???
18 August 2023
HUF cannot gift shares to any member directly without tax liability, even with the consent of all the coparceners.
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