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.......
Menu
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.
Recent Threads
- Form 16 format
- 17(5) Blocked ITC
- Transfer of equity shares to original owner
- Login credentials and payment acknowledgement not
- Export sales not realised payment not received fro
- Capital gain account amount utilisation
- Form 26QB – Section 194-IA: TDS on Full Cons
- Indexation Benefit available or not on Calculation
- Documents for return exhibition material
- Can I set off equity losses(both short term loss a
Related Threads
CAclubindia
