Sharing of huf income to the members of huf
This query is : Resolved
02 March 2017
I hav a HUF property and get rents from the house in my home town. Can i distribute the rental income to my son daughter and a wife so that I need not pay incometax as HUF.
Shall I have to make a WILL or with nregistered Will can i ask the tenant to pay ren directlly to my wife and son in some proportion. Is wil mandatory ? I have only one son .
Shall I have to make a WILL or with nregistered Will can i ask the tenant to pay ren directlly to my wife and son in some proportion. Is wil mandatory ? I have only one son .
CA Chandan Sharma
(Expert)
02 March 2017
If the the property is in the name of HUF than the HUF is liable for pay income tax of the rental income.
02 March 2017
Can I trnasfer te property with right to enjoy the rental income
can HUF property be transferred thro unregistered will? I can ttransfer and te rent can be received by my wife .
I agrre HUF has to pay tax as long as rent is received in the name of HUF..
can HUF property be transferred thro unregistered will? I can ttransfer and te rent can be received by my wife .
I agrre HUF has to pay tax as long as rent is received in the name of HUF..
CA Chandan Sharma
(Expert)
02 March 2017
There is no such option given to transfer property without the registered agreement(exception will, relative gift ect.), we must execute a transfer with the registered agreement only.
13 March 2017
Thank you very much ,Sir, for the clarification.
If I execute a will as HUF head , there should not be any problem and the will need not be registered I suppose .
registration of will is not mandatory, I presume . Am I correct sir, to think on these lines.
Thank you very much ,Sir, for the clarification.
If I execute a will as HUF head , there should not be any problem and the will need not be registered I suppose .
registration of will is not mandatory, I presume . Am I correct sir, to think on these lines.
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