https://www.taxtmi.com/manuals?id=1409 Where a member converts separate property into HUF property or transfers it without adequate consideration, income from the converted property is treated as the member's income rather than the HUF's. Following a subsequent partition, income attributable to the portion received by the member's spouse is also clubbed with the member's income, as applicable; the relevant income is excluded from the HUF's or spouse's income to avoid double taxation. Property includes sale proceeds and substituted assets, and income includes loss. en-us Sat, 16 Jan 2016 16:35:00 +0530 Thu, 12 Nov 2026 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1409 Where a member converts separate property into HUF property or transfers it without adequate consideration, income from the converted property is treated as the member's income rather than the HUF's. Following a subsequent partition, income attributable to the portion received by the member's spouse is also clubbed with the member's income, as applicable; the relevant income is excluded from the HUF's or spouse's income to avoid double taxation. Property includes sale proceeds and substituted assets, and income includes loss. Manuals Income Tax Sat, 16 Jan 2016 16:35:00 +0530 https://www.taxtmi.com/manuals?id=1409