TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income Tax Bill 2025 Clause 315 updates HUF partition taxation rules under Section 171</h1> The Income Tax Bill 2025's Clause 315 updates Section 171 of the Income-tax Act 1961, governing taxation of Hindu Undivided Families after partition. The provision deems HUFs to continue as undivided entities for tax purposes unless partition is formally recognized through inquiry by Assessing Officers. It establishes joint and several liability among former members for pre-partition tax obligations, penalties, and interest. Significantly, partial partitions after December 31, 1978 are disregarded for tax purposes to prevent avoidance schemes. The clause defines partition as actual property division, not mere status severance, and allocates liability proportionally based on property received. While modernizing language and cross-references, it maintains the core anti-avoidance framework.
TaxTMI 
TaxTMI 