06 August 2024
Hi Team, If we have a jointly held property and rental agreement is made with first & second holder.
As per agreement First Holder is getting the rental income in their Individual Bank Account
How the rental income should be considered for taxation purpose?
Is it as per the Rental Agreement both owners should be taxed as per their ownership holding ?or It should be who receives income in their bank account or It doesn't matter who receives the income but either of the Joint property holders can show in their Income tax return ?
CAclubindia
