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?

GJCo

GJCo (Expert)
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03 January 2013 b) Yes. You can show provided the agreement contains the ratio of 50:50.

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Notional rental income from jointly owened property

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