Rent Receipts
This query is : Resolved
shanmuganandam
(Querist)
23 December 2008
Mr.X settled his property in favour of his chidren and the enjoyment right including rent receipts in favour of his wife on 18th January 2007.However both Mr.X and his wife are received rent for the finacial year 2007-2008 and the tenant also deducted TDS and issued TDS certificates in both names. Whether the rent receipts are taxed in Mr.X's assessment u/s 64 (iv) or in his wife's assessment or offered as income from other sources in their individual assessments.
23 December 2008
Replied earlier
CA Tilak Raj Sharma
(Expert)
23 December 2008
Rent should be taxable in the hands of Mr. X only.
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