Income from HUF

Income Tax Income from House Property
#1

My father is 80 years old and he has a self acquired property in his name. He has two children - my elder sister and me. He wants to leave the property to me for future and wants to write a will to that effect. The property is rented out and receives rental income. Inorder to minimize my tax impact,

  1. Can i ask my father to bequeath the property in the will to my HUF (consisting of me, my wife and 2 children) instead of to me directly?

  2. Given the property is bequeathed directly to the huf, i am assuming there will be no clubbing provisions to my income?

#2

Hi @Kart43

Here are the answers to your queries.

  1. Yes, you can ask your father to bequeath the property in the will to your HUF.
  2. The clubbing provisions shall not apply to your individual return. The rental income shall be taxable in the hands of the HUF.