Huf tax planning
CA. G.K. Gupta (Service) (311 Points)
12 March 2017CA. G.K. Gupta (Service) (311 Points)
12 March 2017The individual shall be deemed to have transferred the converted property, through the family, to the members of the family for being held by them jointly
The income derived from the converted property or any part thereof shall be deemed to arise to the individual and not to the family;
Provided that the income referred to in clause (b) shall, on being included in the total income of the individual, be excluded from the total income of the family. Therefore, in case the land on which you intend constructing the godown is transferred to the HUF, any income from such property shall be treated in the manner explained above.
https://www.tribuneindia.com/news/real-estate/query-zone/can-i-transfer-my-property-to-huf/292844.H T M L
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