Sagar (27 Points)
29 June 2011Hi,
Please assit for the Following Case.
Assessee pays rent to wife who is the owner of the property and Wife who receive the same shows as house property income taxable under sec 22 of the income tax act 1961 wether the same would be permissible and if not under which section the same would be disallowed.....
Thanks & Regards
Sagar Oberai
Vikas
(CA)
(1135 Points)
Replied 29 June 2011
If the husband is under the Tax Audit then the disclosure would be required.
But it is allowed...
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 29 June 2011
if there is no other obligations or funds flow between both the parties, then looks admissible, but for mere book entry and to claim HRA exemption if such documentation is generated then may get disallowed.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 29 June 2011
| Originally posted by : U S Sharma | ||
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if there is no other obligations or funds flow between both the parties, then looks admissible, but for mere book entry and to claim HRA exemption if such documentation is generated then may get disallowed. |
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agreed
CAclubindia
