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Income of HUF

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(Querist)
26 February 2011 Can profit earned by a HUF be distributed among the members of HUF in regular course? Is there any option like withdrawal or drawings(available in partnership firm) available in HUF?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 March 2011 According to Section 10(2), where any amount
is paid out of the income of the family i.e.HUF, the said income is not taxable in the hands of members.

Further income can not be said property of HUF so question of partial partition does not arise.

Hence distribution of income can be made.
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