Transfer of asset during partition of family
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 June 2014
Dear sir,
Whether income tax is charged on asset received during partition of family ???
Our yearly income is not exceeding 2 lac.
If i receive asset during partition of our family then whether it is taxable in my hand.
Please reply......
Whether income tax is charged on asset received during partition of family ???
Our yearly income is not exceeding 2 lac.
If i receive asset during partition of our family then whether it is taxable in my hand.
Please reply......
16 June 2014
the ans is no as its exempted from capital gain only if there is full partition of huf.
Rupesh Jain
(Expert)
17 June 2014
no assets recd. on partition of family not taxable
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