Revenue sharing taxability
This query is : Resolved
Quick Summary
16 October 2024
Assesses owns one hotel premise, he has given that premises for use as hotel purpose to other person and he will charge 25% of gross receipt from that person as revenue sharing for use of hotel premises,
how it will be taxable 25% revenue from that person , owner want to take that revenue income in all family member name as owner of the premises is his father
how it will be taxable 25% revenue from that person , owner want to take that revenue income in all family member name as owner of the premises is his father
16 October 2024
Is the father alive?
16 October 2024
YES FATHER IS ALIVE
PLEASE GIVE BRIEF DETAILS IF POSSIBLE
PLEASE GIVE BRIEF DETAILS IF POSSIBLE
16 October 2024
If father is owner of the property, he alone has tax liability. After the tax deduction he can share the capital as per his wish.
16 October 2024
IF FATHER WANT TO SHARE AS ON DATE THAN ANY REMEDIES
16 October 2024
He can gift the property to some of the family members as per his wish.
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