Clubbing of income from self-acquired property converted into HUF property treats derived income as the individual's taxable income.

Clubbing provisions apply where an individual converts separate or self-acquired property into Hindu undivided family property by impressing it with family character, throwing it into the common stock, or transferring it without adequate consideration. The converted property is treated as having been transferred through the family to its members for joint holding, and the income derived from it is treated as the individual's income rather than the family's income. Where the property is partitioned, income received by the spouse is treated as indirectly transferred income. Property includes proceeds and substituted property, and income includes loss.

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