Individual transfer his property to huf

Tax queries 2063 views 7 replies

IF ANY INDIVIDUAL TRANSFERS

HIS PROPERTY TO HUF THEN IT

WILL BE TAXABLE ???sad

Replies (7)

if the person you are referring to is the Karta /co-parcener or covered under 56(2)(vii), then no tax.

if any husband and wife transfer thier property of thier own huf  then ??

i think I have already answered that

BUT IT IS TAXABLE U/S 64(2)  ....

It will be clubbed in the income of transferrer subject to the provisions of sec.64(2)

the income generated from the asset will be clubbed subject to conditions in 64(2).

ohk...thank you sir.. @ Nikhil sir @ Ramesh sir.. :)smiley


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