Issues related to huf reg taxability
This query is : Resolved
Yogesh Kumar
(Querist)
26 October 2014
whether can agriculture land received from nana or mother or any relative other than father be taken under receiver of huf or not ?
what will be impact of this land as well as its income for taxation purposes in hands of receiver huf under the I T Act And Wealth Tax Act ?
whether can ancestral agriculture land be come under smaller huf after full partition of bigger huf without executing any formal deed or any thing or not ? if any formality required then what is it ?
can we file I T R of huf in the year in which marriage takes place ?
can we use the gifts received from other than member of bigger huf as capital of smaller huf ?
what will be impact of this land as well as its income for taxation purposes in hands of receiver huf under the I T Act And Wealth Tax Act ?
whether can ancestral agriculture land be come under smaller huf after full partition of bigger huf without executing any formal deed or any thing or not ? if any formality required then what is it ?
can we file I T R of huf in the year in which marriage takes place ?
can we use the gifts received from other than member of bigger huf as capital of smaller huf ?
Amol S Joglekar
(Expert)
10 November 2014
after FULL partition of HUF, the smaller HUF can continue. No separate deed per se is required. The partition deed itself is sufficient evidence.
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