Whether Individual and HUF can purchase a FLAT in joint name

Tax planning 1606 views 5 replies

I want to purchase Flat in joint name of my self,wife and HUF. Can i do so. If yes, then tell me the provision.

Replies (5)

Dear Mukul Sir,

I think u can..........But which provision & in which law u are looking for that i couln't understand..plz specify

No,you Can't Purchased In Joint Name HUF,u,n ur spouse.

U May Purchase in name of you & ur wife.

 

i think you can purchase on self, spouse but i doubt HUF......

Yes there is no prohibition in having one's own HUF a joint holder in flat purchase. But it would amount to throwing a share of your property in your HUF hotchpotch. Any income derived from this property (to the extent of HUF share) will be clubbed in your income alongwith your individual share.

Unless of course the HUF pays its share in the cost of the flat.

can i purchase a property in the name of my father and jointly with my huf?


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