A house property is in the joint name of husband & wife.The rent agreement was executed in the name of the wife & the TDS certificate was also issued in the name of the wife.whether the entire income can be shown in the name of the wife eventhough the property is in the name of both the husband & wife?
2 Replies
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 23 July 2009
Only if part of the property was let out. If the entire property was let out then both of you must have received rent for the property. Otherwise it might lead to your wife has taken your part of the property on rent and hence pay rent to you for your part. It would lead to deemed to be let out property to your wife.
anoop
(CA Final student)
(165 Points)
Replied 23 July 2009
In such a case is only half the rent received to be included in the wife's total income?
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