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HUF PROPERTY
Foreign investments in your portfolio? Follow this ITR checklist to avoid tax scrutinyResident and Ordinarily Resident (ROR) taxpayers with foreign assets or income must carefully disclose overseas investments, dividends and ...- Paying rent but not receiving HRA? Here’s how non-salaried individuals can claim tax deductionSelf-employed individuals and salaried employees not receiving House Rent Allowance (HRA) can claim tax benefits for rent paid under Sectio...
- Supreme Court suggests mediation to settle dispute in Bharat Forge promoter familyThe Supreme Court has proposed mediation for the Kalyani siblings to settle their extensive family dispute over ancestral wealth and compan...
- AICC chief Kharge declares assets worth Rs 38.76 cr in RS affidavitAICC chief Mallikarjun Kharge has declared total assets worth Rs 38.76 crore in his Rajya Sabha nomination affidavit. His assets include mo...
- ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Can your co-owner sell a property without asking you? The answer depends on this one decision
- Income tax return AY 26-27: Excel utility, online filing for ITR-1, and ITR-4 forms now available on e-filing portalIncome tax return AY 26-27: The Income Tax Department has launched Excel utilities and online filing for ITR-1 and ITR-4 for the Assessment...
- Gave up tenancy, got new flat in redeveloped property, then faced income tax notice of STCG of Rs 1.1 crore: How tenant won at ITAT MumbaiA Mumbai tenant successfully challenged a Rs 1.1 crore tax notice. He surrendered tenancy for a new flat in a redeveloped building. The Inc...
- Key changes in ITR 1, 2, 3 and 4 forms in FY 25-26: Reporting of LTCG, buyback losses, F&O, intra-day trading & more; what new forms includeThe Income Tax Department has revised ITR forms for FY 2025-26, introducing new disclosure requirements for capital gains, trading, and for...
- New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
- Can a Karta sell joint family property to one relative? Here’s what the law allowsThe Supreme Court upheld a Madras High Court ruling stating a Karta cannot transfer joint family property to one member without genuine nec...
- Karta’s property not treated as HUF asset if he can prove it was acquired from personal income without use of ancestral assetsThe Supreme Court of India has clarified property division rules for Hindu Undivided Families. A Karta's property is considered self-acquir...
- Ancestral land sale: Tax department issues notice over Rs 8 crore share, taxpayer wins case in ITAT Delhi; here's what happenedA man received Rs 8 crore from the sale of ancestral land, but the tax department issued a notice for tax evasion. The Income Tax Appellate...
- Zerodha's Nithin Kamath draws attention to a lesser-known income-tax saving methodNithin Kamath, the billionaire co-founder and CEO of Zerodha, highlighted the benefits of the Hindu Undivided Family (HUF) through a post o...
- I have written a will with the help of friend. Is it mandatory to register a will in India?While it is not mandatory or legally binding to have a will registered, it is advisable to do so. This is because it makes it much easier t...
- Should the HUF be phased out?ET Wealth talks to experts to draw out opinions on both sides of the argument on whether HUFs should be phased out.
- Are there tax benefits to forming an HUF?One of the primary reasons for creating an HUF is to save tax. Here are some points to keep in mind while doing so.
- HUF can help you save substantial income tax: Here's howAn HUF is treated as a separate tax entity; it enjoys a separate basic tax exemption of Rs 2.50 lakh in addition to separate tax exemption ...
- How to use HUF for as a tax planning toolThe Hindu Undivided Family structure is a great tax planning tool that can divide your tax liability and multiply the benefits. Find out ho...
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