COMPLETE DISSOLUTION OF HUF
what is the process
and
tax implications
SANJAY KUMAR GUPTA (individual) (38 Points)
08 February 2020
CA. Nirmal Ghorawat
(Owner)
(620 Points)
Replied 04 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.
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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