HUF partition

Tax queries 836 views 2 replies
Can any one tell me the formalities for HUF partition under Income Tax Act.
Replies (2)

1) WHETHER FULL PARTITION IS NECESSARY IN INCOME TAX ACT.

2)WHETHER A HUF FULLY PARTITIONED CAN BE REVIVED OR RE-CONSITUTED.

3) WHETHER HUF CAN GIVE GIFT TO ITS COPARCENERS OR TO OUTSIDERS.

Yes, a Total Partition by metes and bounds, is necessary for it to be recognised under the Income Tax Act, 1961.

A claim of partial partition, either as to assets or to coparceners or members is not recogbised under section 171 of the Income Tax Act, 1961.

You may also vist : https://www.canirmalg.com/2017/04/22/partition-of-a-hindu-undivided-family/

 


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