In case of HUF, when Karta dies whether the corpus fund can be distributed among his wife and 2 sons before the receipt of refund or both the amount shall be distributed together after the receipt of the refund i.e. whether HUF can distribute the corpus fund two times
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Can we distribute the corpus funds of Hindu Undivided Family (HUF) two times when the Karta dies?
Replies (1)
There is no legal provision for "two-time" distribution. Under current Income Tax laws, only a total partition is recognized. A partial partition is generally disregarded for tax purposes. It is advisable to settle all outstanding tax matters (including receiving refunds) before executing a total partition deed to avoid future tax liabilities and administrative disputes.
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