If a property is jointly owned by a mother and son, a rental agreement can be drafted in just the mother's name. However, it's crucial that the rental income is declared equally in both individuals' tax returns (ITRs). This ensures compliance and proper tax reporting for all parties involved.
05 February 2025
Hi Team, I would like to ask If property jointly hold by Mother & Son's name is it possible to make the Rental Agreement in just Mother's name?