Property Rent

Others 472 views 2 replies

HELLO FRIENDS, PLS. ANYBODY TELL ME. IF THE PROPERTY IS TAKEN ON RENT BY THE PARTNERSHIP FIRM FROM ONE OF THE PARTNERS.PROPERT IS IN THE NAME OF PARTNER BUT THAT PARTNER IS ALSO KARTA OF HUF.

HE SAYS TO SHOW THE RENT IN NAME OF HUF.

IS THIS IS POSSIBLE PROPERTY IS IN THE NAME OF PARTNER. CAN HE ALSO SHOWS THE RENTAL INCOME IN HUF.

PLS. REPLY ANYBODY.

Replies (2)
ONE OF THE REQUIREMENTS OF SECTION 22 IS HE MUST BE THE OWNER OF THE PROPERTY IN NO CASE SHALL THE INCOME BE TAXED IN HANDS OF HUF HE HIMSELF WILL GET TAXED

property must be in name of HUF to get rent in name of HUF, 

mere being karta of HUF does not shift his personal individual rights to HUF


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