Section 10(2) → Section 12
Exemption - Receipts from HUF
Quick Answer
Section 10(2) of the Income Tax Act, 1961 (Exemption - Receipts from HUF) corresponds to Section 12 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 10(2)
Provision Summary
Any sum received by an individual as a member of a Hindu Undivided Family (HUF) out of the income of the family is exempt.
Sec 12
Provision Summary
Retained to prevent double taxation of family income that has already been taxed in the hands of the HUF.
Key Changes & Highlights
- Tracking of HUF distributions improved through the AIS.
Frequently Asked Questions
What does Section 10(2) of the Income Tax Act 1961 deal with?
Section 10(2) (Exemption - Receipts from HUF) Any sum received by an individual as a member of a Hindu Undivided Family (HUF) out of the income of the family is exempt.
What is the new section number for Section 10(2) under the Direct Tax Code 2025?
Section 10(2) of the ITA 1961 maps to Section 12 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 10(2) under the new tax code?
Section 10(2) is marked as "Retained" with status "Active". Impact: Medium - Standard protection for HUF members.
What are the key changes to Section 10(2) under DTC 2025?
Tracking of HUF distributions improved through the AIS.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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