03 March 2014
Rental income can only be shown in the HUF return if the property belongs to the HUF. If YOU are the owner, then rental income CANNOT be shown in the return of the HUF.
Solution:
Transfer the property to the HUF - however if it is transferred free of cost, then clubbing provision will apply.
04 March 2014
1. You can transfer property by executing a gift deed. - However clubbing provisions will be applicable and rental income will be included in your income.
CAclubindia
