Hi
This is Saurabh Pusalkar.
I have a plot in Bhopal which I purchased for 20Lacs in 2011.
I want to sell it now for approx 90L
Now I plan to save tax by getting the proceeds of the sale in two HUF.
The first HUF with me as a karta and the second HUF in the name of my wife Akansha as a karta.
However the plot is in our joint names.
Now if we sell the property how can we show/claim that the money is received by the HUF of mine and my wife.
Do we need to gift the property to the HUF or we need to transfer the property to the HUF which again is a cost.
Thanks
Saurabh Pusalkar
Indore
