LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Clubbing provisions

05 August 2014

Dear Sir, I have the following query- Suppose Mr. X owed a house property in Mumbai. He gifted the same property in 2013 to his daughter in law Mrs.Y. Now, Mrs.Y is earning a annual rental income from that property. So, will the rental income earned will be clubbed in the income of Mr.X u/s 64(1)(vii) or there is any other related provision regarding the same?

Reply
Follow
Share

6 Replies

Saurabh Maheshwari (B.com,ACA) (5923 Points)
Replied 05 August 2014

yes Rental Income will be clubbed in the hands of transferee(Father In Law)....further Income includes Loss, therfore, in case of Loss from HP the same will be allowed to transferee...

Mihir (Wealth Manager) (5293 Points)
Replied 05 August 2014

Yes, taxable in the hands of the father-in-law.

Madan (Accounts Officer) (154 Points)
Replied 06 August 2014

Accepted with above

CS Advocate Abhishek Goyal (M Com FCS LLB M-AIMA ) (13531 Points)
Replied 06 August 2014

Rental income will be clubbed in the hands of the father under the head income from house property.

Ajay (AGM) (91 Points)
Replied 06 August 2014

This is just a basic question its shows that hows our community is far behind when compared ro iim or iiis.

Sushil Kumar Pandey (Professional) (24 Points)
Replied 09 August 2014

MR. Ajay, no personal offence, but questions can of any type, just using this forum for learning and teaching, which means he is keen to learn m spent time for asking this question