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Rent Receipts

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(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.

Whether the rent received by Mr.X & x's wife is eligible for deduction u/s 24 & Municipal Taxes paid
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
23 December 2008 The rent will be taxable in the hands of Mr.'X'
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
23 December 2008 Rent should be taxable in the hands of Mr. X only.
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shanmuganandam

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shanmuganandam (Querist)
23 December 2008 Whether the rent receipts are eligible for deduction u/s 24 & other eligible deductions
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