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Clubbing provision under sec 64(2)

Tax queries 219 views 3 replies

Summary of Past Transaction

1. Mr. ABC has purchased Shares of Hindustan Unilever in FY2009-10.

 

2.    Mr ABC (Individual) had gifted 9000 share of Hindustan Unilever to ABC(HUF) on 20.03.2017   (F.Y. 2016-17)

 

3.    Mr ABC HUF sold 6500 Shares between 05.06.2018 To 03.08.2018 madeLong Term Capital Gain of Rs.XXXXX/- (F.Y 2018-19)

 

4.    Can Clubbing provision under Sec 64(2) apply to above Transaction?

 

5.    Tax rate are same (NEUTRAL) in both case  , Who will pay Tax Mr. ABC (Individual) or ABC (HUF)?

Replies (3)

4. Yes.

5. ABC individual....

Thanks Dhirajbhai for your quick guidance and Supprot 

Dhirajbhai,

1. Can HUF reversed earlier received Gift from karta  (Listed Company shares)  to Same KARTA

Thanks in Advance for your valuable guidance


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