someone plz help me.... can the karta of huf purhcase the property in his own name and for buying this property karta uses the funds of huf... my querry is that will it b treated as a property of huf or karta...... plz reply its urgent.......
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Investment by huf in the name of karta
Replies (1)
HUF and Individual are two different persons and each of them is having an option to claim one house property as self occupied.
In my view property will be in the name of that person in whose name property papers are..
In case property is in name of Karta and fund utilised from its HUF account then such amount will be treated as Loan taken in hands of karta in his Personal Income Tax File.
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