Income from self occupied property converted into Joint Property :

Last updated at April 16, 2024 by

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)
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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.