HUF
This query is : Resolved
Puspkant Goyal
(Querist)
11 August 2016
1. huf has some movable assets in his huf name.
2. now adult member wants their share.
3. huf decide to give 50% assets to them.
4. is it possible ??? partial pratition of huf ???
Amol S Joglekar
(Expert)
11 August 2016
The partial partition is NOT recognised by the Income Tax Act. (However, as per hindu law, partial partition may be done)
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Puspkant Goyal
(Querist)
11 August 2016
it is quite clear that capital gain is exempt since transfer is not regarded as transfer 47 (1)
Amol S Joglekar
(Expert)
11 August 2016
yes, true.....
you are welcome
you are welcome
Message likes :
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Puspkant Goyal
(Querist)
11 August 2016
thank you amol ji 👍
Amol S Joglekar
(Expert)
11 August 2016
you are most welcome.
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