Income from house property
This query is : Resolved
10 November 2014
Dear Sirs,
I have purchased a flat by taking loan and whole EMI is being paid by me. Balance money has also been paid by me only. My wife is made a co applicant in the property but there is no contribution from her side.
Can we take the income from house rent in the name of my wife? This will lead to tax savings because her annual income is less than taxable limit, being a house wife.
Pl advise urgently.
Thanking you
I have purchased a flat by taking loan and whole EMI is being paid by me. Balance money has also been paid by me only. My wife is made a co applicant in the property but there is no contribution from her side.
Can we take the income from house rent in the name of my wife? This will lead to tax savings because her annual income is less than taxable limit, being a house wife.
Pl advise urgently.
Thanking you
Amol S Joglekar
(Expert)
10 November 2014
Transfer of income without transfer of Asset.
This income will be clubbed in your income.
This income will be clubbed in your income.
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