Creation of huf
This query is : Resolved
11 September 2012
Sir,
One of our client inherited a property from his parents and receiving a rental income from that property.My query is
* shall we create a HUF status of that client and file a return of income by creating a HUF of his family.or
*He has to include that income in his individual status if he file his return in individual status .
I want to clarify on the above details, kindly make suggestion on the points.
with regards
dhilipkumar a.
One of our client inherited a property from his parents and receiving a rental income from that property.My query is
* shall we create a HUF status of that client and file a return of income by creating a HUF of his family.or
*He has to include that income in his individual status if he file his return in individual status .
I want to clarify on the above details, kindly make suggestion on the points.
with regards
dhilipkumar a.
13 September 2012
If you create a HUF and the client transfers the said property to the HUF, the rental income shall be taxable in the hands of the assessee only by virtue of the clubbing provisions.
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