HUF Partition Taxability

This query is : Resolved

Tilak Agrawal (Querist)
Follow

13 May 2011 Sir/Madam

Bigger HUF say A having Karta A has three Members ( Sons ) Say B, C, and D. and Each of the members have there own HUF.

Mr. B has four Sons say 1, 2, 3 and 4.

Bigger HUF A has a business which has a great brand value in the market. Because of this partition of Big HUF have not taken place and the members of this HUF have decided to have there own area for the use of the brand and they pay a fix sum to the Bigger HUF.

Mr. B Died and four son 1,2,3 and 4 Decided to Partition the HUF of B.

Whether this a Partial or Total Partition of HUF??

CA MANOJ GUPTA

CA MANOJ GUPTA (Expert)
Follow

13 May 2011 THE PARTTION IS TOTAL ONLY IF IT THE PROPERTY IS FULLY DIVIDED AMONG THGE COPARCENERS
IF B HUF IS PARTITIONED BY DIVIDING TH EPROPRTY OF HUF FULLY THEN THERE WILL BE NO PROBLEM
U HAVE TO NOTIFY THE FACT TO AO CONCERNED ALSO
CA MANOJ GUPTA
JODHPUR
09828510543