is it correct to show land in huf books and construction on such land in karta individual books , both karta and huf are income tax assesses
1 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 11 January 2011
request you to check the "registration deed" , BLRO receipts and other tax related documents which belong to your HUF property, as there is no mention of any "HUF" specifically,
HUF is an identity specified to save the tax on family income of joint nature ( severe income is taxed direct in individual file) , balance all treatments of records goes in names of karta or members only.
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