Huf

vinay khanna (Querist) 18 July 2013 This query is : Resolved
Long time back my father self acquired property was converted to huf by him in income tax for income tax purpose only.In land & developmentoffice,NewDelhi,mcd.
electricity and water were in his individual name.In Land and develop too he did not convert it to huf.In income tax now I show it in my individual name.Since in land and development is in my individual name and not in huf.Now is this huf or individual asset.

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adv. rajeev ( rajoo ) (Expert) 18 July 2013
If it is in your name and you had independent income while purchasing the land, then it will be your self acquired property.

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