Share of Profit HUF, Income Tax

[RK B]

Greetings

Can a HUF who is having shares as investments for more than 5 years, book LTCG on a part(50%) of it and distribute the proceeds (PROFIT) as gift OR share of porfit among the Karta & Coparcerners..

If yes,

1.What will the tax implication of the same. (wrt gift tax)

2. Will Sec 10(2) be applicible or not ?

3. What ratio should the distribution take place or it can be left to the Karta's discretion ?

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

You may better approach to an expert in income tax for clearing your all doubts.