Income from house property
This query is : Resolved
20 July 2012
i purchased house in joint name with my wife, and let out it.
Kindly advice me how the rental be taxed.
Would it be taxed in my hand only as deemed income or be taxed 50/50 in both hands.
Thanks
Kindly advice me how the rental be taxed.
Would it be taxed in my hand only as deemed income or be taxed 50/50 in both hands.
Thanks
20 July 2012
It should be taxed in the proportion of your % of ownership in the house property
20 July 2012
It should be taxed in 50 : 50 Ratio.
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