House property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 December 2016 My wife was allotted a plot with plinth in a co-op. soc. after our marriage...she was unemployed all the time. A house has been built on the plot with money from me, her parents, her siblings etc. but without loan from bank etc. The house is now in her name. Should it be declared by me for income from house property? I have already 2 houses in my name one of which is self occupied and the other declared as let out in my ITR

Sandeep Dharar

Sandeep Dharar (Expert)
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20 December 2016 If the property is in the name of ur wife, then the taxability (if applicable) will also lies in the hands of ur wife.

Querist : Anonymous

Querist : Anonymous (Querist)

20 December 2016 Thank you sir! The plot was alloted in 2008 & house was completed in 2011. But as she has never filed an ITR being a housewife and having no other source of income, is it necessary to declare it in some manner to the Income Tax authorities to avoid being questioned about sources of income etc. particularly in the uncertain circumstances existing at this time. She may not have exact information of all sources of income. Is it likely I will be held liable for tax on house property as I contributed and will be penalized for concealment .,..?

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