Income from house property
This query is : Resolved
28 September 2011
If Mr A gifts some property to his major son & afterwards his major son lets out his property for some amount, so who will be assessed for such income?
HIS MAJOR SON
OR
MR A
HIS MAJOR SON
OR
MR A
28 September 2011
Clubbing provisions do not apply when property is transferred to a major son. They apply only when the property is transferred to a minor son.
So, the income will be taxable in the hands of the major son.
So, the income will be taxable in the hands of the major son.
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