Purchase of immovable property

On the assumption that property is being taken on Housing loan

Alternative 1 )

The property can be purchased in the name of HUF.Every Co-parceners and karta would have right in this property.Rental income would be taxed in hands of HUF and also it can avail the benefits of Deduction for interest payment U/s 24B, Housing loan principal payment U/s 80C, Stamp duty Payment

Alternative 2 )

The Property Can be purchased in joint name of husband and wife.So both can avail the benefits said above in thier respective Share.

As per my opinion second alternative is an hassle free one.although they falls under the higest slab category but the same would be set off by deduction u/s 24B for interest payment and housing loan principal payment

On the assumption that property is not taken on laon

then its Better to go with the option of buying in name of huf

Also Take care about the TDS requirements under sec 194 IA ,since consideration is more than 50 lakhs.and now its Required to file form 26BQ and issue form 16B. other wise penal consequence u/s 234E pentalty of Rs. 200 / Day would follow

Also Take care about the TDS requirements under sec 194 IA ,since consideration is more than 50 lakhs.and now its Required to file form 26BQ and issue form 16B. other wise penal consequence u/s 234E pentalty of Rs. 200 / Day would follow