Tax related issue

yes if any income is arise from property then there will be clubbing of income

thanks jatinder ji, but i want to ask can the property be registered in my name bcoz it has been purchased out of my dad' s income, not mine

Tax Implication of these type transactions needs to be assessed in the following manner:

(i) Where it is a gift chargeble u/s 56(2)(vi)?

Since the above gift is from father, being a relative, hence not chargeable to tax u/s 56(2)(vi).

(ii) Whether clubbing provisions would apply?

Provisions of Clubbing apply inter-alia in the case of transfer of assets to spouse or son's wife and income of minor child. Hence, if you are not a minor child then income arising out of said house property will not attract clubbing provisions and taxable in the hands of receipient.    

Assets can be purchased or registered in your name out of fathers income. Its the case of gift.

thanks a lot aman gupta

well in that case my dad will have to get the gift deed registered in my favour or directly register the property in my name?

Your father may transfer his income to you and you can purchase the property in your name.