Huf
This query is : Resolved
06 January 2014
Procedure to be follow for total partition of HUF under Income Tax Act ?
06 January 2014
You have to prepare a deed of Full Partition of all the assets and liabilities of the HUF amongst all the co-partitions and this deed is to be registered. On the basis of this deed all assets must be distributed and handed over to the copartiners which they have to accept at the time of registration of the deed that the respective portion of the properties have been received by them. In this manner the co-partioner can show the property received in this hand in his tax return and then after the closer of HUF you have to surrender the PAN Card.
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06 January 2014
Thanx Sir, But I wamt to know whether there is any specific format of Deed for partition?
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