Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Rental income

Save Share

Join Us Follow Us Add as Source

This query is : Resolved

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 A property is in joint name of husband and wife. how Rent received from property be divided between them there is no share of ownership of property but sale deed is executed in joint name.
Please reply urgently.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

18 July 2013 Joint Name means 50-50 ownership in case of absence of sharing.
divide renal income half and take benefit of co owner accordingly.

Querist : Anonymous

Querist : Anonymous (Querist)

19 July 2013 the husband wish to show 100% income in his return. whether it is correct.
or is it correct to show any proportion say 10:90, 20:80 etc where no sharing is written in legal documents.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

19 July 2013 you can show it 100% for husband .
enter one contract on indian non judicial stamp paper that whatever be revenue will be of husband but ownership will be 50-50.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now