Partition of huf
This query is : Resolved
29 August 2016
A HUF consist of 5 members having 1 residential bunglow and other movable assets. The members want to effect full partition of the assets. Can uneven distibution of share in immovable property i.e. residential bunglow be made ? If yes, then what about stamp duty effect ? If not, then how the other members can relinquish their right in the favour of one member ? Kindly explain.
29 August 2016
yes, there can be unequal partition at the will of the coparceners of HUF.
http://www.itatonline.org/articles_new/the-entire-law-relating-to-hindu-undivided-family-huf-explained/
please follow the link for a detailed discussion on HUF as such
http://www.itatonline.org/articles_new/the-entire-law-relating-to-hindu-undivided-family-huf-explained/
please follow the link for a detailed discussion on HUF as such
26 March 2021
My post Partition of HUF : https://www.canirmalg.com/2017/04/22/partition-of-a-hindu-undivided-family/
Partition Deed usually attracts a lower rate of duty vis a vis Deed of Conveyance. Further Single Largest Share is excluded while computing Stamp Duty.
Stamp Duty rates vary State / UT wise.
Partition Deed usually attracts a lower rate of duty vis a vis Deed of Conveyance. Further Single Largest Share is excluded while computing Stamp Duty.
Stamp Duty rates vary State / UT wise.
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