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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
