Income from HUF
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 June 2010
Hello,
Our old house purchased in the name of my Father. Now that old house is sold and purchased new house in the name of me & my father. What is tax treatment whether the income is taken in HUF or Individual. And show any other way how should be treated.
Our old house purchased in the name of my Father. Now that old house is sold and purchased new house in the name of me & my father. What is tax treatment whether the income is taken in HUF or Individual. And show any other way how should be treated.
22 June 2010
it depends upon the fact whether the house was purchased from huf funds or individual funds, if it is from huf funds income will be treated as huf income otherwise individual income
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