Transfer of assets in case of ceasation of huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 January 2013
what will be the tax liability of a member of HUF who gets the capital assets and/or proceeds after selling the capital assets which he/she gets after dissolution of HUF after death of karta..
please cast relevant sections also.
regards
Manish Kr Jaiswal
please cast relevant sections also.
regards
Manish Kr Jaiswal
05 January 2013
10 (2) of income tax act can be invoked in this. The estate is not taxable in the hands of HUF members.
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