Hindu undivided family
This query is : Resolved
07 December 2016
Sir,
I have doubt about Date Of Incorporation. We have one client who purchased property in 2011 on the name of all family members so can we make an affidavit for pan card taking date of incorporation before 2011 now?
I have doubt about Date Of Incorporation. We have one client who purchased property in 2011 on the name of all family members so can we make an affidavit for pan card taking date of incorporation before 2011 now?
CA Suresh Jain
(Expert)
07 December 2016
The property purchased can not be said to be HUF property as it is registered in joint names and therefore it is a joint property. The joint owners have to show their source of respective investment
09 December 2016
Thank you.. but the property is agricultural land and the tax consultant from whom they filed individual returns had not shown this land to their individual accounts.
CA Suresh Jain
(Expert)
09 December 2016
What is the treatment given to this Agricultural Land by them ? Is it treated as HUF Property ?
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