I have query regarding Income Tax for Rented Property. I have 2 Flat in Pune City.One is rented and second is Self occupied. I am single Owner of both property.
Can I show Income of rented property in My Wife income instead of include it My income?
If I declare rented income in My income then I need to fill income tax by considering 30 % income tax slab. If I declare rented income in My wife's income then she need to fill income tax by considering 10 % income tax slab.
12 December 2017
As the property is in your name the rental income can't be shown in wife's income. In case of gift of the house to your wife the income will be clubbed in your hands
CAclubindia
