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HUF Capital Distribution
Hello Everyone. I want to surrender my HUF PAN Card. What's the procedure and how to distribute its capital and whether it is taxable? Experts please guide. Thanks You.
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Summary: Dissolving an HUF requires a formal, registered partition deed, the physical distribution of all assets, and a successful claim under Section 171 of the Income Tax Act. The distribution itself is not subject to capital gains tax, but all pre-partition income must be declared in a final ITR before surrendering the HUF's PAN.
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