Rental income from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 July 2013 Sir,
I am receiving rental income from residential house in my saving account under rent agreement between my tenent and me, but actually I am not the owner of that house. that house is still in the name of my father who have died 6 years ago without making any kind of will or nomination etc.
Now while filing my income tax return should I show it my other income as I am not the owner or under house property income head as I am taking it under rent agreement ? can I take 30% standard deduction on it? Is my mother may be liable to pay tax on this.
which Itr should I file ?.
Thank You.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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18 July 2013 It is better to take the necessary steps to bring the property records in favour of you and your mother.
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As your father can't be assessed, you and your mother have to decide keeping in view the wishes of your late father.
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Being the only child of your parents, your mother may surrender her right in the property in your favour.
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In such a case the property income can be assessed in your hand. As you have not surrendered your right , so you are an implied owner of the property.
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In the present scenario, you and your mother both can be assessed for the property income.
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Get the rent agreement revised accordingly.
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