Ancestral Property Transfer To Newly Formed Huf | Vkeel - Free Legal Advice

Rohan Bagal

Manik Nagar

We two brother have ancestral property and getting rent income out of it. We have newly formed Huf. 1) can we transfer this property to huf. 2)what is the process of transfer. 3) if transferred without any consideration then the income will be taxable under individual or under but.

Expert's Answers(3)

Kishan Dutt Kalaskar 40 years Exp (Retired Judge)
Bengaluru Urban, Karnataka

187 Client Ratings

Dear Sir, You may approach local Advocate and also chartered accountant if your properties worth crores of rupees. Please give me rank after viewing my details. Please call me for further assistance.

January 7, 2022
Advocate Ankur Goel
Bangalore, Karnataka

7 Client Ratings

You can convert it to HUF. For this you have to contact a local lawyer/CA.

January 6, 2022
Advocate Anik
Bengaluru, Karnataka

66 Client Ratings

Dear client, yes you can convert it into HUF property. Further, Rights of members of HUF do not get enlarged on throwing property into family hotchpot, income from said property had to be treated as assessee’s individual income only. The property can change its legal incidents on the birth of son. Thanks Please Appreciate

January 4, 2022