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Rent received in single name but house has co-owner.

ITR Filing 932 views 5 replies

Tenant is paying rent in single name but house has co-owner. Tenant is also depositing TDS in single name as rent agreement is in single name . Please advise how to file income Tax return ?

Replies (5)

The rent agreement needs to be modified and the TDS deductions should be as per ownership of both the owners. ITRs should be filed by declaring rental income divided in both owners' file.

Thanks that was the correct way . Tenant has already deposited 100% TDS in one pan account. What is the other way of correcting now even if it leads to additional tax burden on one or both the co-owner? Can I file the return as per any of the below options?

1) Double the rent in both the co-owners income tax return to match the rent and TDS figures 

2) 100 % rent and tds in one account and no mention of rent and tds in other co-owner return ?

The correct way would be to divide the rent along with TDS to declare 50% rent income in each PAN.

Window for Correct way of doing things is closed . I am looking for another option.

As such no other option, may wait for any query from CPC.

Exercise the correct option in next ITR.


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