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If an individual transfers the property or otherwise treat his property as joint property of the HUF for inadequate consideration, then clubbing is applicable

 

In case there is subsequent partition of such property

Incomes of following property will be taxable in hands of Individual

  • Property received by individual
  • Property received by Spouse of Individual or
  • Property received by  minor child (Rs 1500 exempt)

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 6 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com.
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