Rent agreement on flat

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Vikas Chandra (Querist)
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24 December 2015 Hi, I want to let out my newly purchased flat however I have taken a Home Loan. this flat is regiseterd on my wife's name. Should I file return on my wife name ?

A.Soundararajan

A.Soundararajan (Expert)
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24 December 2015 You have to file return in your wife's name if the income exceeds the maximum amount not liable to tax

Vikas Chandra

Vikas Chandra (Querist)
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24 December 2015 If I will Signed rent agreement of Rs. 14000/- Per month. then have to file return on wife name or not ?

Guest

Guest (Expert)

24 December 2015 Even if it is signed by you, this is only a procedural lapse. The income shall be legally earned only by your wife. consequently, return shall be filed in her name. But if her total income does not exceed basic exemption, then return not required