Individual transfer his property to huf

Spirit (Learner) (450 Points)

28 November 2013

IF ANY INDIVIDUAL TRANSFERS

HIS PROPERTY TO HUF THEN IT

WILL BE TAXABLE ???

Reply
Follow
Share

7 Replies

Nikhil Kaushik (Fellow CA) (85619 Points)
Replied 29 November 2013

if the person you are referring to is the Karta /co-parcener or covered under 56(2)(vii), then no tax.

Spirit (Learner) (450 Points)
Replied 29 November 2013

if any husband and wife transfer thier property of thier own huf then ??

Nikhil Kaushik (Fellow CA) (85619 Points)
Replied 29 November 2013

i think I have already answered that

1 Like

Spirit (Learner) (450 Points)
Replied 01 December 2013

BUT IT IS TAXABLE U/S 64(2) ....

CMA Ramesh Krishnan (Cost & Management Accountant) (71484 Points)
Replied 01 December 2013

It will be clubbed in the income of transferrer subject to the provisions of sec.64(2)

1 Like

Nikhil Kaushik (Fellow CA) (85619 Points)
Replied 01 December 2013

the income generated from the asset will be clubbed subject to conditions in 64(2).

1 Like

Spirit (Learner) (450 Points)
Replied 01 December 2013

ohk...thank you sir.. @ Nikhil sir @ Ramesh sir.. :)

Start a New Discussion