Treatment of house property
This query is : Resolved
01 March 2013
A member of HUF purchased a property out of his savings but he
registered the property in the name of HUF and he put a condition that
income derived from that property would be taken by member and will
be transferred to his personal account. What is the treatment of income
received from property ?
A member of HUF purchased a property out of his savings but he
registered the property in the name of HUF and he put a condition that
income derived from that property would be taken by member and will
be transferred to his personal account. What is the treatment of income
received from property ?
01 March 2013
According to the clubbing provisions such income earned from such property is taxable in the hands of such member. As well as such property also liable for wealth tax in the hands of such member(if liable to wealth tax).
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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