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HUF

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Puspkant Goyal

Puspkant Goyal (Querist)
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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

Amol S Joglekar (Expert)
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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

Puspkant Goyal (Querist)
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11 August 2016 it is quite clear that capital gain is exempt since transfer is not regarded as transfer 47 (1)

Amol S Joglekar

Amol S Joglekar (Expert)
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11 August 2016 yes, true.....
you are welcome

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Puspkant Goyal

Puspkant Goyal (Querist)
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11 August 2016 thank you amol ji 👍

Amol S Joglekar

Amol S Joglekar (Expert)
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11 August 2016 you are most welcome.

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