rental income taxation
CA CS NITIN MAHAJAN (CA ) (273 Points)
26 May 2018CA CS NITIN MAHAJAN (CA ) (273 Points)
26 May 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 26 May 2018
Legal owner i.e. Father........
Son is only agent through POA.
CA CS NITIN MAHAJAN
(CA )
(273 Points)
Replied 26 May 2018
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177824 Points)
Replied 26 May 2018
As I said he is (collecting) agent on behalf of his father (holding Power of Attorney)
When Taxability is concern......... the rent will be assessed in Father's hand, as he is legal owner.
(whether Son pays back the amount to his father or not, that hardly matters; but if he deducts any commission, it will be taxed in his hand)
CA CS NITIN MAHAJAN
(CA )
(273 Points)
Replied 26 May 2018
tanaji kisan chorghe
(audit manager)
(2 Points)
Replied 26 May 2018
CA CS NITIN MAHAJAN
(CA )
(273 Points)
Replied 26 May 2018