RESPECTED ALL MEMBERS
ONE VEHICLE MY BROTHER NAME
AND THIS VEHICLE RENT INCOME PER MONTH 30000 NOW THIS AMOUNT CREDIT TO MY BANK ACCOUNT SO HOW SHOW IN ITR.
PLEASE SUGGEST ME.
4 Replies
sanjith kotni
(Articled assistant)
(663 Points)
Replied 29 April 2020
On this income your brother is required to pay tax as per clubbing provisions as it is covered under transfer of income without transfer of assets .
Kamlesh Tolani
(accountant)
(563 Points)
Replied 29 April 2020
Sir lease pe show Kar ke Meri income show Kar sakte he ?
sanjith kotni
(Articled assistant)
(663 Points)
Replied 29 April 2020
Yes kamlesh .But since the car is registered in the name of your brother .If you get the notice for assessment then definitely it will be caught and u need to suffer
see there is but risk .If you follow provisions correctly ,then it will be good or else you should take risk of consequences .
visit my blog -sanjithkotni.blogspot.com.
see there is but risk .If you follow provisions correctly ,then it will be good or else you should take risk of consequences .
visit my blog -sanjithkotni.blogspot.com.
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