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House Property

This query is : Resolved 
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(Querist)
29 July 2009
Dear All,

Can the Husband let out his house property to his wife. They are staying together. He does not have any other house property. Can he show the rent received from his wife as income from House Property and claim interest U/s 24?
(Interest amount is exceeding 150000/-)
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
29 July 2009 yes. it shuld be backed by proper rent slips and it is better if he (husband)makes payment through a/c payee cheque
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CA.Pujah

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CA.Pujah (Expert)
30 July 2009 Yes. Needs two things:
1) Rent paid should be adequate consideration, i.e., market rent, so that it's not questionable.
2) rent payment should be made by a/c payee cheque (preferentially) with due rent receipt
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venu

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venu (Querist)
30 July 2009 Thank you very much
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