Clubbing of Income

If income of House arising to HUF and that Income is Tansfered to wife of Karta without transfering the property to her will it be clubbed to HUF OR consider income of transfree.

Replies (10)

It Will Be Treated as Income of  HUF ( I Mean to Whom Name The Property is?)

if on Name of HUF Then HUF Income Only.

Income will be clubbed in HUF.

Dear Narendra,

Though this appears to me a hypothical question, my reply to this will be based upon sec 60 of the act which provides for taxing the income in hands of the transferor i.e HUF in ur case.

Regards

Kanti Jain

Transfer of Income without transfer of Property - Income will be clubbed in the hands of Transferor...

In the above case, it will be the HUF.....

Right seems like a hypothical question.

Income from the home will be income of huf on account of transfer of property without consideration.... i think thats the only logic.

yup...thats the only logic.....

and though dis is a hypothetical situation according to many but our institute doesn't think so...

The very same point also came in May 2010 PCC total income q......

Income will be clubbed  and taxable in the hands of HUF.

yes income will be taxable in hands of transforer

Dear Narendra,

A HUF can not give gifts of any asset / income.

But I am not totally sure on the above so the reply by Kanti sir closes the discusssion.

Dear Narendra & Amir,

Thanks for ur kind words, but i think since matter is resolved let us move on to next query.

Regards

Kanti Jain

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