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Share of Profit HUF, Income Tax

Issue Id: - 113408
Dated: 14-2-2018
By:- RK B
Share of Profit HUF

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Greetings

Can a HUF who is having shares as investments for more than 5 years, book LTCG on a part(50%) of it and distribute the proceeds (PROFIT) as gift OR share of porfit among the Karta & Coparcerners..

If yes,

1.What will the tax implication of the same. (wrt gift tax)

2. Will Sec 10(2) be applicible or not ?

3. What ratio should the distribution take place or it can be left to the Karta's discretion ?

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1 Dated: 7-8-2018
By:- DR.MARIAPPAN GOVINDARAJAN

You may better approach to an expert in income tax for clearing your all doubts.


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