Hp income
This query is : Resolved
03 March 2014
IS IT POSSIBLE TO SAVE TAX BY FORMING HUF
IF PERSON IS RECEVING RENT OF 192000 PA, CAN THIS INCOME WILL BE SHOWN IN HUF RETURN?
IF PERSON IS RECEVING RENT OF 192000 PA, CAN THIS INCOME WILL BE SHOWN IN HUF RETURN?
03 March 2014
Rental income can only be shown in the HUF return if the property belongs to the HUF. If YOU are the owner, then rental income CANNOT be shown in the return of the HUF.
Solution:
Transfer the property to the HUF - however if it is transferred free of cost, then clubbing provision will apply.
Solution:
Transfer the property to the HUF - however if it is transferred free of cost, then clubbing provision will apply.
04 March 2014
HOW TO TRANSFER PROPERTY TO HUF
RENT AGREEEMENT SHOULD BE BETWEEN HUF AND TENANT?IS IT CORRECT
RENT AGREEEMENT SHOULD BE BETWEEN HUF AND TENANT?IS IT CORRECT
04 March 2014
1. You can transfer property by executing a gift deed. - However clubbing provisions will be applicable and rental income will be included in your income.
2. Transfer through sale of property.
2. Transfer through sale of property.
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