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Distribution of HUF Funds - Section 171

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....istribution of HUF Funds - Section 171 Query (Issue) Started By: - satbir singh wahi Dated:- 9-2-2010 Last Reply Date:- 13-2-2010 Income Tax Got 1 Reply Income Tax huf has funds Rs.50 lac....

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....s. The family members want to distribute Rs.40 Lacs amongst them. Can they do so in view of section 171 of IT Act. Otherwise what remedy one has. Reply By Rama Krishana: The Reply: Partial partition ....

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....is not allowed under section 171. If the members wants to use the funds of the HUF either partition the HUF completely in terms of section 171 or distribute loan after complying with the conditions of....

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.... sections 269SS and 269T of the Income Tax Act, 1961. Discussion Forum - Knowledge Sharing ....

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Distribution of HUF Funds - Section 171