{"id":28455,"date":"2022-07-17T12:30:28","date_gmt":"2022-07-17T07:00:28","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=28455"},"modified":"2022-07-21T05:41:45","modified_gmt":"2022-07-21T00:11:45","slug":"amount-received-on-family-arrangement-and-partition-of-huf","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/amount-received-on-family-arrangement-and-partition-of-huf\/","title":{"rendered":"amount received on Family arrangement and partition of HUF"},"content":{"rendered":"<p>Assessee is an individual and Hindu . He got married with another women in the life time of first wife. He had two children from first wife and a daughter from second wife. \u00a0First wife expired and thereafter almost 25 years assessee and his second wife are living together as husband and wife and also accepted by all family and society. Assessee was also assessed to tax in the capacity of HUF also.<\/p>\n<p>The family members consisting of the children of\u00a0 first wife and the second wife and her daughter has decided to settle their disputes about the property of the individual and HUF of the assessee by way of family arrangement and full partition of HUF. Accordingly, executed the memorandum of family arrangement. As per said arrangement, the second wife and her daughter have received certain properties.<\/p>\n<p>Whether these amounts are taxable in the hands of second wife and her daughter under Income Tax Act?<\/p>\n<p>Whether provisions of section 56(2)(x) are applicable to the properties received as per family arrangement and partition of HUF ?<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[33],"qa_category":[23],"qa_tag":[31,651,67,78,315],"class_list":["post-28455","qa","type-qa","status-publish","hentry","qa_expert-advocate-shashi-ashok-bekal","qa_category-income-tax","qa_tag-family-arrangement","qa_tag-family-arrngement","qa_tag-hindu-undivided-family","qa_tag-huf","qa_tag-partition"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/28455","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=28455"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=28455"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=28455"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=28455"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=28455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}