If a member contributed to the HUF out of his personal income, is there any benefit under the Income tax Act, 1961
Menu
Huf
Replies (3)
IN MY OPINION AS PER PROVISION 64 ANY PERSON CAN NEVER TRANSFER/ CONTRIBUTE HIS PERSONAL PROPERTY TO HUF
no an individual can transfer his property to huf...Income 4m the same will taxable in d hands of huf...clubbing is nt applicable...
I agree with Lalit.
You can transfer / gift assets to your HUF.
The only thing is it will be taxable in hands of HUF. But then there are ways and means to save this tax also.
Recent Threads
- About CMP -08
- RCM List on GST
- Resignation of Previous Auditor
- Summary of GST Notification 18/2025 (Effective 1 N
- Heard & Seen Around – Your Daily Economi
- ITC restriction for Food manufacturing units
- Consortium Partnership: GST and TDS query
- Luxury premium car - Lease or Loan
- Income tax act 40 A (3)
- Transmission of deceased's shares in physical form
Related Threads
CAclubindia
