land is registered with name of karta, land is purchased using huf funds, karta wants to construct building on such land using his own funds, is it valid?,
who is the owner? karta or huf?
is karta has right to construct building on such land?
2 Replies
Rajagopalakrishnan R
(PARTNER)
(1422 Points)
Replied 03 September 2011
If land is purchased using HUF funds, then HUF is the owner. There is no legal bar in Karta constructing building in the land with his own funds if the members of the HUF are also agreeable to the idea. In which case, the land will be hUF property and building will be Karta's personal property.
There is no natural right for the Karta to construct the property with his own funds.
CA Krishna Chaitanya M
(Chartered Accountant)
(463 Points)
Replied 03 September 2011
if building constructed using karta individual funds on huf land, then where to claim income from house property
to claim income from house property, is it necessary land and building are owned by same person.?
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