huf

bishan singh negi (service) (104 Points)

27 April 2008

hi,

farum Namaskar to every member of this forum.

1.could u please tell me is there any procedure to distribute huf income to its member .

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4 Replies

pushpendra (Director- FinMAT Consultants) (1703 Points)
Replied 28 April 2008

As per hindu Law

bishan singh negi (service) (104 Points)
Replied 28 April 2008

HI,

PUSHPINDRA THANK U SO MUCH OR REPLYING BUT COULD U PLEASE TELL ME THE SECTION OR ANY REFERENCES IF U HAVE,

THANKS WITH REGARD.

Gayathri Devi (CA Final) (882 Points)
Replied 28 April 2008

Hi bishan

The income from HUF is fully exempt in the hands of indiuvals of HUF because the tax hasbeen already paid by HUF

hence there is no double taxation. so income from HUF is fully exempt in the hands of Indiuvals

There is no seperate section for sharing of HUF income in Incometax act,1961

bishan singh negi (service) (104 Points)
Replied 28 April 2008

hi,

Gayathri Devi,

Thanks and sorry actully my question is what is the procedure for distribution of huf currents assets to its member.

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