An HUF was partitioned and the member Mr. X who had transferred his self-acquired property and his wife got some share. The income will be taxable in the hands of :
A. Mr. X
B. HUF
C. Mr. X will be liable to pay tax on his and his wife’s share.
D. Mr. X will be liable to pay tax on his share alone.
Answer:C
An HUF was partitioned and the member Mr. X who had transferred his self-acquired property and his wife got some share. The income will be taxable in the hands of :
A. Mr. X B. HUF C. Mr. X will be liable to pay tax on his and his wife’s share. D. Mr. X will be liable to pay tax on his share alone.