Huf
This query is : Resolved
05 August 2014
Mr. A got ancestral property i.e. agriculture land before his marriage from his father Mr. X.
Now after marriage of Mr. A, can Mr. A treat income of that agriculture income as income of M/s A HUF ?
Now after marriage of Mr. A, can Mr. A treat income of that agriculture income as income of M/s A HUF ?
05 August 2014
1st of all, Mr. A has to transfer the property to HUF.
05 August 2014
Thanx Umesh Sir ...but still some confusion...
is it compulsory to transfer property from Mr. A to M/s A HUF?
As Mr. A got ancestral property..can Child of Mr. A get claim right of his share in that property?
is it compulsory to transfer property from Mr. A to M/s A HUF?
As Mr. A got ancestral property..can Child of Mr. A get claim right of his share in that property?
05 August 2014
HUF is created by the act of party. So Mr. A has to transfer the property to HUF to become property of HUF.
If HUF is formed, then his child can get his share in that property.
If HUF is formed, then his child can get his share in that property.
05 August 2014
again thnk u..
If property have to transfer then what is procedure for that? and how many stamp duty paid for it?
If property have to transfer then what is procedure for that? and how many stamp duty paid for it?
05 August 2014
depend on state where the property lies as stamp duty is state subject
05 August 2014
as it is agriculture land, no Income Tax. As gift tax is abolished, no gift tax. you have to pay stamp duty only.
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