Can female member of huf blend her agriculture land to huf
This query is : Resolved
28 March 2016
Can female member of HUF transfer her agriculture land to HUF?Or by making gift to huf she can do so?If se gift that property to huf whether income from that property taxable to her or huf?
Ankur Singhal
(Expert)
28 March 2016
DEAR
YES A FEMALE MEMBER CAN GIFT THE PROPERTY TO THE HUF.
AFTER THE GIFT IS MADE THE INCOME ARISING FROM THE PROPERTY SO GIFTED WILL BE TAXABLE IN THE HANDS OF HUF.
BUT IN YOUR CASE THE LAND IS AGRICULTURE IN NATURE AND INCOME ARISING FROM IT WILL BE EXEMPTED FROM TAX.
YES A FEMALE MEMBER CAN GIFT THE PROPERTY TO THE HUF.
AFTER THE GIFT IS MADE THE INCOME ARISING FROM THE PROPERTY SO GIFTED WILL BE TAXABLE IN THE HANDS OF HUF.
BUT IN YOUR CASE THE LAND IS AGRICULTURE IN NATURE AND INCOME ARISING FROM IT WILL BE EXEMPTED FROM TAX.
Message likes :
1 times
28 March 2016
Yes but we have to mention it for reporting purpose and if income other than agriculture income exceed maximum amount not chargeable to tax rebate on agriculture income available
Message likes :
1 times
Ankur Singhal
(Expert)
28 March 2016
Dear
In that case apply composition scheme on both the income and accordingly calculate the tax liability.
And the tax on agriculture income will be taxable in the hands of HUF.
In that case apply composition scheme on both the income and accordingly calculate the tax liability.
And the tax on agriculture income will be taxable in the hands of HUF.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
