optimum solution
This query is : Resolved
Pankaj Singla
(Querist)
15 May 2016
my father is govt employee and mother is house wife. we had rented one commercial property which is registerd on my fathers name. plz tell the optimise solution to save tax... or else we should create a HUF ? or trnasfer property to my mothers name.?
16 May 2016
If your father transfer the commercial property to your mother the rental income will be clubbed in your father's income as per section 64. Similarly even if he transfers the said property to his HUF then also same thing will happen by virtue of section 64.
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Rupesh Jain
(Expert)
16 May 2016
no way, if prop. in name of your father then tax ultimately born by your father u/s 64.
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