Rant received under huf property.

Kishan chauhan (surat) (27 Points)

23 March 2013

Rent recived under HUF property will be clubbed under karta's individual file?

Please Advise.

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4 Replies

DEEPU HN (Student CA Final ) (80 Points)
Replied 23 March 2013

it is not clubbed in the individual income, karta has to file the return on behalf of indvidual in the name of HUF.

(Guest)

HUF is an individual entity... You need to file a separate ITR of HUF...

CA Deepak Rathore (EXPERT) (281 Points)
Replied 24 March 2013

no, since Huf And karta have separate legal entity,

so it will not clubbed in the hand of karta

Pannalal Ghosh (Owner) (21 Points)
Replied 30 August 2013

Dear Sirs,

Our Society is going for re-development program.

The builder will give us money in three ways;

1. Corpus Fund : Rs.7,50,000.00,

2. Rs.40,000 PM as house rent and,

3. Rs.25,00,000 Sale of Excess Area of the Flat( which I will be entitled) to the Builder.

I have individual as well as HUF PAN account.

Please suggest how should I proceed to minimise my tax pay out.

Would all the payments be liable for Tax payment.

Please suggest

Pannalal Ghosh

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