Rent income taxability

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A father is looking to reduce his high rental income tax by gifting parts of his commercial property to family members. This is possible if the property can be legally divided into separate units and gifted via registered deeds to adult children. The discussion also touches upon the necessary documentation for such a transfer.

jayesh khokhariya

jayesh khokhariya (Querist)
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08 July 2024 1) Father holding commercial property earning rental income paying higher tax due to huge rent
no he is planning to gift some portion of property among family member and want to distribute rental income among family member is that possible then how??

2) which document we need to prepare ??

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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08 July 2024 Possible only if the property can be divided into individual separate units and each unit is gifted (by Registered Gift Deeds) to his major son/daughter/.s

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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26 August 2024 Good luck.

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