CA Milan Goel
Job
[ Scorecard : 46]
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Posted On 09 July 2012 at 21:17
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Husband is the owner of a shop. But in Rent Deed, it is clearly mentioned that the rent of the shop will go to his wife.
Now, Will this rental Income be clubbed into the hands of Husband or not?? pLz inbox
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Giridhar S Karandikar
Team Lead
[ Scorecard : 2683]
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Posted On 09 July 2012 at 21:39
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Income from house property is taxed in the hands of the person who is the owner of the property. so the rental would get clubbed in the hands of husband & not the wife.
Total thanks : 1 times
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CA Harshit Rastogi
Chartered Accountant
[ Scorecard : 672]
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Posted On 09 July 2012 at 21:40
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Whether the shop is purchased by wife from his own source of money or its gifted by husband??
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Baiju
consultant
[ Scorecard : 21]
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Posted On 10 July 2012 at 09:02
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Dear Sir
I am salaried person and I have another income under the item "winning from lotteries" amounts to Rs.800000/- an amount of Rs246000/- (33%) and I was isuued with the form 16A.
Shall I club this income with salaries in ITR1 Sahaj for Ay 2012-13?
If not how can I file the ITR forms for both the income.
Shall I have to submit seperate returns for salary and the income from winning from lotteries?
Pls help me to file the returns.
Thanks & Regards
Baiju
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Giridhar S Karandikar
Team Lead
[ Scorecard : 2683]
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Posted On 10 July 2012 at 10:17
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Yes you can show the income from salary & income from lotteries in one ITR only. No need to file seperate returns for both the incomes.
Disclose the TDS details correctly in the TDS tab of the excel utility
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CA Milan Goel
Job
[ Scorecard : 46]
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Posted On 10 July 2012 at 11:17
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CA Harshit Rastogi. hello Sir, I mentioned it, Th e Husband is the shop owner.
actually i was 99% sure that income will be clubbed in the hands of husband, but still there is a bit of doubt, bcz of the legality of rent deed. thats its.
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CA Milan Goel
Job
[ Scorecard : 46]
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Posted On 10 July 2012 at 11:21
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yes Mr. Baiju. U can fill the detail of lottery in ITR-1 only. put Salary income in "Salaries" column & 800000 in the column of "income from other sources" and in TDS page, put the details of TDS deducted from Form 16A given to u. and ur ITR will be complete
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