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Income from house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
12 July 2010 One of my clients and his wife a second flat in July 2009. Both of them are co-owners of the flat; the husband (my client) being the only borrower of home loan.

Regarding the rental income from this house: Will both my client and his wife need to show it in their individual tax returns?

If yes, does it have to be in 50-50% proportion, since they are co-owners? Or
Will the % be decided based on the proportion of investments made by each of them?
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DR GAURAV GUPTA FCA, FCS, LL.B

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DR GAURAV GUPTA FCA, FCS, LL.B (Expert)
12 July 2010 50- 50% UNLESS OTHERWISE ANY WRITTEN CONTRACT
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Bharath Kumar

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Bharath Kumar (Expert)
12 July 2010 Joint ownership would be equal unless there is a written document to state otherwise
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