House Property Income of Joint Owners

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Dibyendu Majumder (Querist)
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05 January 2022 Sir, My clients woned 3 house property. 1 is self occupaid & another 2 is let out, They are legally owners as per sale deed & loan agreement, but 3 house property totally funded & loan repaid by husband. The rent arise from 2 letout property is deposited to wife bank account, What is the tax treatment of profit/ loss arise from 2 letout house property & interest of SB , arise from house property income? . Is it included in Husband or wife tax computation? Please clarify.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 January 2022 It's to be included in husband's income as he only funded for the property.
Clubbing provisions applicable.

Dibyendu Majumder

Dibyendu Majumder (Querist)
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06 January 2022 Is interest from Savings account on the name of his wife, where the rent is deposited will also be include in other income of his husband?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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06 January 2022 Not required to add such interest income.

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