Sec 64(1a)
This query is : Resolved
22 June 2012
(1)If an assessee transfers a house property to his minor child and that child is getting income from that property. is that income is clubbed in the hands of assesse?
(2)If an assessee transfers a house property to his major child and that child is getting income from that property. is that income is clubbed in the hands of assesse?
(2)If an assessee transfers a house property to his major child and that child is getting income from that property. is that income is clubbed in the hands of assesse?
22 June 2012
1. If an individual transfers a house property to his minor child, Section 64(1A) is NOT applicable.
Section 27 is applicable and the individual is treated as the deemed owner of the house property.
2. If an individual transfers a house property to his major son, neither Section 27 nor clubbing provisions are applicable.
The income from such house property shall be taxable in the hands of the son only.
Section 27 is applicable and the individual is treated as the deemed owner of the house property.
2. If an individual transfers a house property to his major son, neither Section 27 nor clubbing provisions are applicable.
The income from such house property shall be taxable in the hands of the son only.
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
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR 2 Short Term gain & Long term gain
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- Tax liability on income of freelancer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
