Clubbing of Income
This query is : Resolved
06 September 2020
Hello,
Please tell me taxability in case of Income from house property transfer without transferring house property to Major Son, Daughter in law and another daughter in law ( Widow). TIA.
Please tell me taxability in case of Income from house property transfer without transferring house property to Major Son, Daughter in law and another daughter in law ( Widow). TIA.
06 September 2020
As per Section 64 transfer of income without transferring of asset is taxable in the hands of the transferor only.
CA Praveen M R
https://prsrglobal.in/
CA Praveen M R
https://prsrglobal.in/
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07 September 2020
For transfer of Immovable property registered document is necessary. It seems that House property is not transferred but want to show income in name of other relatives, which is wrong. Income will be assessed in hand of owner, in whose name the house is on record.
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