Mr.X ,an individual , inheirted property from father brother .Can the rental income of property be shown under HUF status ? What are the legal consquences ?
for history (Internla audit) 27 March 2017
Mr.X ,an individual , inheirted property from father brother .Can the rental income of property be shown under HUF status ? What are the legal consquences ?
Adv. Yogen Kakade (+ 91 9225510883) 27 March 2017
If the property is undivided as succession so far, then the income generated out of such property is Family income.
But details facts need to be seen before coming to conclusion.
CA. Ankit Vijaywargiya 27 March 2017
If Mr. X is legal and benificial owner of property than income generated from property can not be treated as income of HUF but if ownership is not transferred than it can be claimed as income of HUF.
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