Distribution of AOP Assets between members of AOP

[Sanjay Mehra]

Dear Sir

AOP having four family members as members of AOP having investment in shares of closely held companies and one property, now due to division between the family members, Investment in Shares will go to one brother and property is going to remaining brothers. Please advice how to handle the issue.

Thanks

AI Summary

Family Divides Assets: Shares to One Brother, Property to Others; Seeks Tax Compliance Guidance under Income Tax Regulations. An Association of Persons (AOP) consisting of four family members is undergoing a division of assets. The assets include investments in shares of closely held companies and a property. The proposed division allocates the shares to one brother while the property is to be distributed among the remaining brothers. Guidance is sought on managing this asset distribution in compliance with income tax regulations.