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Huf corpus

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 August 2014 Can an HUF be formed by Karta designated his property as that of HUF?
If Karta, or a member of proposed HUF gifts money or property to HUF, will the income from the gifted property be deemed to be income of donor or that of HUF?
Will Karta or member has to prepare a gift deed and register the same in favour of HUF?
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Rupesh Jain

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Rupesh Jain (Expert)
26 August 2014 property can gift by the karta but income from property will taxable in hand of karta.

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