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of <h1>HUF Co-Parcener Receipts Usually Tax-Exempt Under Income Tax Act Section 10(2), Subject to Section 64(2) Conditions.</h1> An individual who is a co-parcener in a Hindu Undivided Family (HUF) receiving an amount from the HUF is generally exempt from taxation under Section 10(2) of the Income Tax Act. This exemption applies specifically to the assessee, meaning the individual recipient. However, this exemption is subject to the provisions of Section 64(2), which may influence the taxability based on certain conditions or relationships.
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