HUF Related Capital Gain

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..... HUF Related Capital Gain
Query (Issue) Started By: - M Saran Dated:- 29-1-2013 Last Reply Date:- 21-3-2015 Income Tax
Got 1 Reply
Income Tax
Dear Netizens , The query is regarding the c .....

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..... laim of exemption under section 54. in in the case of the HUF. An ancestral house is sold by a person on his name situated in a Village. The sale proceeds is received through an account payee cheque .....

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..... in the name of his two sons. Can the person who sold the House claims that it is a partition of HUF but no PAN no is allotted to the person in capacity f karta. Is any capital gain provisions attra .....

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..... ct to said persons or his sons.???? Reply By Rama Krishana: The Reply: HUF property would remain taxable in the hands of HUF on transfer. Exemption u/s 54 can be availed by the HUF only.
Discus .....

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..... sion Forum - Knowledge Sharing .....

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