44 AE for HUF and Individual

Jaspreet Singh (Director) (30 Points)

29 June 2009  

I personally own 8 vehicles and am getting the exemption under section 44 AE. I also have 6 vehicles in my wife's name. Now I am planning to expand and purchase 8 more vehicles, as my limit for Section 44 AE is of 10 vehciles I am planning to create a HUF in my name and purchase these new vehicles in that. Will the HUF be eligible for section 44 AE and will my individual income be clubbed with HUF.

Any answers regading this are welcome.