Clubbing provision

This query is : Resolved

Himanshu Gupta (Querist)
Follow

05 December 2014 Dear Sir/mam Karta of huf transfered his property in huf without consideration my query clubbing provision is applicable in the hands of Karta plz suggest how we can save from tax liability of karta

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
Follow

05 December 2014 The income property transferred by Karta to HUF will be clubbed in hands of Karta only under section 64(2).

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

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.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rampal Saini

Vijay Mishra

SUBHASH SAHA

Vinod Dharwarkar

R Prabhudoss

Subscribe Now

Clubbing provision

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

CA Final

GST CONSULTANCY

GST CONSULTANT

Manager- Finance and Compliance

Accountant