Partition of huf
This query is : Resolved
14 December 2014
There is a HUF whose karta, his wife and his 4 daughters are members thereof. Now, on partition of huf karta wants to divide property of huf between him and his wife only. The daughters will not get anything from partition of huf. And daughters have given their agreement in doing so. Is it allowed legally?
15 December 2014
As per HINDU law, the same can be done. No issues. (The income tax derecognises PARTIAL partition....so the care be taken that the same should NOT tentamount to PARTIAL partition in the eyes of Income Tax)
15 December 2014
yes it is legally allowed so....................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Regarding appeal to GSTAT
- Form 121 & TDS deduction
- Copyright software
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- LC charges in relation to Asset purchased should be Capitalised ?
- Transporter Declaration form
- Value of property in capital gain
- Multiple trade mark
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
