03 March 2008
In the head INCOME FROM HOUSE PROPERTY it is mentioned that a person should be the owner of the building in order to treat the rent received under this head and it is further mentioned that ownership includes lease hold rights. Now a person holding lease hold right pays rs8,000p.m to the actual owner and gives this property to another fellow and receives rent of rs 10,000p.m ,can he show this amount of rs10,000 under this head,and if he can do that where will he show this 8,000 as deduction
CAclubindia
