Rent recieved from house property
This query is : Resolved
28 June 2014
we are 3 brothers after the death of out father we have opened a joint account in the name of three of us. Now the rent income recieved in the joint account from the house property should be clubbed in whose name?
and what if we create a trust on name of our mother and show the income received on the trust!!
01 July 2014
THE INCOME OF THE HOUSE PROPERTY SHOULD BE DIVIDED BETWEEN YOUR THREE BROTHERS AND MOTHER. FOR DIVISION OF INCOME YOU SHOULD MAKE A PARTITION DEED. THE TRUST WILL NOT SOLVE THE PROBLEM
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