Tax planning
This query is : Resolved
28 July 2012
My Father has taxable income from salary.
He also earn income from renting of property.
The property is on the name of My Father.
Is it possible to create a HUF??
How it can be created??
i.e. On whose name it can be created??
My grandparents are no more..
Can My father transfer that asset to HUF..??
Then wats the tax effect..
He also earn income from renting of property.
The property is on the name of My Father.
Is it possible to create a HUF??
How it can be created??
i.e. On whose name it can be created??
My grandparents are no more..
Can My father transfer that asset to HUF..??
Then wats the tax effect..
05 August 2012
There will be no benefit as income of the property will be clubbed in the hands of your father only.
.
.
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