17 July 2016
My rental income is deposited in my senior citizen widow mother's account. Am i liable to club this rental income with mine and pay tax on it & its interest income or this rental income along with interest earned on it is taxable in my mother hand?
19 July 2016
1. Rental income is fully taxable to you as the house is in your name . Does not matter where the rent is deposited . Ideally it should be deposited in your account only. You cannot club intrest and rent income with your declaration as intrest is earned by your mother in her account.
2. Interest is earend in Mother's saving account so it is taxable with 80TTA relief to mother as it is mother account.
3. Your mother cannot club rent and intrest in her Tax declation .