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HUF

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(Querist)
04 February 2021 Hi,

I (individual) received a property as settlement deed from my father in 2018 and he received this property from his father. In 2020 i formed HUF (i am karta) with my wife and kid as members. Started earning income from received property 2021. Can i write on affidavit /stamp paper that i am transferring ancestors property to HUF account?. If not, what exactly i need to do to show the rental income of ancestors property in HUF account?.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
01 December 2021 Possible only if the settlement deed specified the division of the property in your HUF account.
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