Huf for tax and income management

Dear Sir,

We are a family of 4 as Parent(father is retired & Sr citizen) and we two brothers. I am working & married but living with parents and younger brother is studying in college.

We have a rental income of around 13.20 Lakh per annum from 2 tenants(floor-wise) from one property.

Can we use one rent agreement(one floor) with the name of HUF and another(agreement for another floor with 2nd tenant) as co-ownership? This is an ancestral property.

Please help as this is getting very tedious for us.

BR

KK

Replies (2)

It could have been possible when mutation of the ancestral property is done in favour of HUF entity itself.

If the present ownership of the property is in favour of your father, its not possible now.

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