About HUF
This query is : Open
05 April 2017
What should be the source of income to start the HUF ?
Message likes :
1 times
CA MANISH SAXENA
(Expert)
05 April 2017
Hi Meet,
Rental Income is the bets option to start HUF Income.
Thanks
May connect me on manish.saxena@icai.org
Rental Income is the bets option to start HUF Income.
Thanks
May connect me on manish.saxena@icai.org
Studentsca
(Expert)
05 April 2017
Which rental income you are talking about??
05 April 2017
But then property for which we are receiving rental income should be in the name of HUF ?
CA MANISH SAXENA
(Expert)
06 April 2017
Hi Meet,
Property can be in the name of KARTA.
Thanks
Property can be in the name of KARTA.
Thanks
06 April 2017
Thanks Manish sir
Is there any other source of income to start off with HUF?
Like receiving gift from mother or from any other member
CA MANISH SAXENA
(Expert)
06 April 2017
No, receiving gift from mother or from any other member is not suggestible.
06 April 2017
And as you told that rent income is the best way but what if there is no property for which rent can be received ?
Studentsca
(Expert)
06 April 2017
Don't take gift from any member of the HUF as the gift in itself would be exempt, however clubbing provisions would be applicable.
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