Notional rental income from jointly owened property
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 January 2013
Hi, I have 2 flats - both jointly owned with my wife.. I stay in one. Other one is vacant. For Notional Income for Income tax
a) can we consider the rent valuation from Municipal corporation ?
b) Can we show the notional income split across myself and my wife in 50:50?
a) can we consider the rent valuation from Municipal corporation ?
b) Can we show the notional income split across myself and my wife in 50:50?
03 January 2013
b) Yes. You can show provided the agreement contains the ratio of 50:50.
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