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Rent Income

Reshma Golani (student) (190 Points)

20 September 2018

if 4 different person i.e The Father , his 2 sons and their HUF are reciving rent from Shop Let Out and the Father is the owner of the shop than how rent income will be taxed ??

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2 Replies

CA Mohammed Khalandar (Practicing Chartered Accountant) (203 Points)
Replied 20 September 2018

Dear Sir,

1. It is the legal owner of a house property who is chargeable to tax in respect of house property income. If the house property is jointly owned, then the income will be taxed in the hands of joint owners in the ratio of ownership.

2. CIT Vs Podar Cement (P) Ltd [1997] : In context of Section 22, 'owner' is a person who is entitled to receive income from property in his own right.

Thanks

Khalandar

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RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 20 September 2018

Originally posted by : Reshma Golani
	if 4 different person i.e The Father , his 2 sons and their HUF are reciving rent from Shop Let Out and the Father is the owner of the shop than how rent income will be taxed ??