15 September 2016
If an ancestoral property of wife is partioned between d husband and wife through a registered settlement, can d rental income be shared between d husband and wife for d purpose of income tax. thnx
15 September 2016
It will be treated as income of wife.As wife is the deemed owner as per section 27 income tax act if the transfer is without or inadequate consideration The exception to above is if transfer made in an agreement to live apart then it will be treated as the income of husband Thank you
CAclubindia
