Rent Income

This query is : Resolved

Devendra (Querist)
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15 January 2011 Mr. X has a flat in his name and the same is let out on rent. Whether he can show the rent income in the name of his son and file his son's ITR?
(Mr. X's son has no other source of Income and previously the rent income was shown in Mr. X's ITR)

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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15 January 2011 Without transferring the asset if only income is transferred then such income will be added in the hands of father only. It can be shown in the hands of major son only after asset is transferred in son's name.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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15 January 2011 Agreed with experts.
He can't show it .

If he show it without transfering without adequate consideration, then clubbing provision will apply.

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