Clubbing provision
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 December 2014
ONE ON MEMBER OF HUF TRANSFERED HIS PROPERTY IN THE HUF....
Query
1.clubbing provision of rental income of property.
Query
1.clubbing provision of rental income of property.
06 December 2014
As per Section 64(2) of the Income Tax Act, 1961 where any property belonging to an individual member of a HUF is transferred to the HUF without adequate consideration then income arising from such property shall be deemed to arise in the hands of the individual and NOT the HUF.
Accordingly rental income from such property shall be clubbed in the hands of the individual.
Accordingly rental income from such property shall be clubbed in the hands of the individual.
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