05 January 2022
1. Total Partition under Hindu Law confirming to the requirements of section 171 of the Income Tax Act, 1961 is required for complete dissolution of HUF.
2. In case of immoveable properties are owned by HUF, a DEED of PARTITION of HUF may be prepared and registered for MUTATION purposes. Partition Deed usually attracts a lower rate of stamp duty vis a vis Deed of Conveyance. Further Single Largest Share is excluded while computing Stamp Duty. Stamp Duty rates vary State / UT wise.
3. For moveable properties not requiring MUTATION, a MEMORANDUM of TOTAL PARTITION may be prepared after oral partition and handing over the possession of such moveable properties to the coparceners / recipients. You may visit https://canirmalg.com/2017/04/22/partition-of-a-hindu-undivided-family/ for more details about Partition of HUF
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