Can inherited amt. be trfd. to huf
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 October 2014
Dear Sir,
My friend's father died recently & has left some amount of FD with Banks, Now my question is whether my friend can transfer the same to his HUF, as he has taxable income in his individual capacity. What could be a better tax planning in this case. Thanks in advance.
My friend's father died recently & has left some amount of FD with Banks, Now my question is whether my friend can transfer the same to his HUF, as he has taxable income in his individual capacity. What could be a better tax planning in this case. Thanks in advance.
26 October 2014
Individual; property of an individual is to be shared by only the individuals as per the right of property act but if there is a will of his father and in that will if the properties have been given to the HUF then only HUF can take the same for his HUF benefit. Do the planning, I am just giving hint.
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
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Regarding Applicability of Tax Audit u/s 44AB
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Reprocessing of rectification order AY 2025-26
- Section 50-fixed asset-->building ceases to exist
- TDS on TRUST
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
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
