WebDec 24, 2011 · Following is the extract of Section 64 (2) of the Income Tax Act, 1962 : Clubbing Provisions in case of HUF. Where, in the case of an individual being a member of a Hindu undivided family, any property having been the separate property of the individual has, at any time after the 31st day of December, 1969, been converted by the individual … WebMay 8, 2024 · If you transfer a self-acquired property to your HUF as a gift i.e. without charging any amount or charging below the fair market value then it attracts clubbing of …
Income TAX - full material - Clubbing of Income Meaning of …
WebApr 14, 2024 · Mr A claims exemption under section 54 F for the purchase of house property after application of clubbing provisions of section 64(1)(iv) in his ITR. ... there are … WebThough the concept of Alternate Minimum Tax (AMT) is similar to MAT in case of corporates, however, the tax base in the case of LLPs is the adjusted total income computed as per the Income-tax Act, 1961 and not the book profit computed after making the specified adjustments to the profit as per the profit and loss account prepared in … reservation magasin cultura
Will any clubbing provision apply in case of transfer of asset to …
WebDescription. In this book Tables of Income Tax Rates and Ready Reckoner for A. Ys. 2024-24 and 2024-25 have been compiled with utmost care enabling the assesses to correctly work out their net income tax liability. Rates of Depreciation for tax purposes and Market rates of Gold and Silver have also been provided. WebMay 21, 2024 · An income of up to Rs 2,50,000/- earned by the HUF is tax-free as per the tax slabs for the Assessment Year 2024-21. A HUF can be used to carry out any … WebJan 27, 2024 · Income from HUF– HUF might have business income, capital gain, income from house property or other sources. It has an option to either reinvest such income or distribute amongst its members. ... Where an asset is converted into any other form, still clubbing provision shall apply. In case of ACIT vs Rakesh S Agarwal (2010) it was held … reservation made under the name of