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Demystifying Section 68 to 69C of the Income tax Act, 1961
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IF ANY INDIVIDUAL TRANSFERS
HIS PROPERTY TO HUF THEN IT
WILL BE TAXABLE ???
if the person you are referring to is the Karta /co-parcener or covered under 56(2)(vii), then no tax.
if any husband and wife transfer thier property of thier own huf then ??
i think I have already answered that
BUT IT IS TAXABLE U/S 64(2) ....
It will be clubbed in the income of transferrer subject to the provisions of sec.64(2)
the income generated from the asset will be clubbed subject to conditions in 64(2).
ohk...thank you sir.. @ Nikhil sir @ Ramesh sir.. :)
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