22 December 2022
We husband and wife together plan to buy a property. We already have an HUF wherein I am the karta of HUF. My queries are 1. If we jointly buy a property (without HUF being a coowner), can its rent be shown as income of HUF as it is a joint family property? 2. If I buy this property with myself, wife and my HUF all three being owners, can I show complete rental income as that of HUF? 3. If I buy this property with myself, wife and my HUF all three being owners, what issues I might face while selling this property(I have two minor daughters who are also members of my HUF).
CAclubindia
