Author Topic: Law of HUF  (Read 4505 times)

brett_lee38

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Law of HUF
« on: February 15, 2011, 02:56:29 PM »
Please put some light on the given facts. The facts are that an assessee got a property under family partition and derive rental income and offered the same in his individual capacity. Later on the assessee dies leaving behind a wife, son and two grand sons. Now my question is that whether the son, after forming a new HUF of his family, can claim the income of this property in his HUF or the wife can offer the income in her individual capacity or the son can offer this income in his individual capacity. It is relevant to mention here that there is no HUF yet and the son is planning to form a new HUF comprising of his wife and sons and want to bring that property in his HUF. What is the correct way? Please reply with citations