Modification of Nature of Business of HUF, Addition of members in HUF, Transfer of property in HUF

Abhay (Manager) (25 Points)

05 May 2023  

Hello Everyone, 1. My Doubt is how to define the nature of business of HUF, if it is already has engaged in other business and now wants to start a business of Renting of Commercial Properties, How can we modify the nature of Business of HUF, so that it becomes an Evidence that the HUF is in the Business of Renting of Properties, In order to avoid it from being taxed under the head ' Income from House Property' . 2. For Example if an HUF was Started in the 1989, with Husband , Wife and One Child, and if another Child is born on 2003, how to add him as the member of HUF? 3. If an Individual who is also the Karta of the HUF has properties in his own name ( not in the name of HUF) and Passes away, can the members of the HUF after his demise, Transfer the Property in the name of HUF ? Will Income Tax Department Consider any Income arising out of such property as income of HUF? is there any Deed Needed to transfer such property to HUF?