huf

HI,

PUSHPINDRA THANK U SO MUCH OR REPLYING BUT  COULD U PLEASE TELL ME THE SECTION OR ANY REFERENCES IF U HAVE,

THANKS WITH REGARD.

Hi bishan

The income from HUF is fully exempt in the hands of indiuvals of HUF because the tax hasbeen already paid by HUF

hence there is no double taxation. so income from HUF is fully exempt in the hands of Indiuvals

There is no seperate section for sharing of HUF income in Incometax act,1961

hi,

Gayathri Devi,

Thanks and sorry actully my question is what is the procedure for distribution of huf currents assets to its member.