Rental income gift transaction allowed in it act
This query is : Resolved
24 November 2022
Sir,
It person (father) own property let out income rs:30,000/- p.m. and rental income credit by son bank account every month.
Father rental income gift to son transaction rs:30,000/- * 12 months show in books.
Question:
Assessess gift to son rental income every month entry passed accepted in it act.
It person (father) own property let out income rs:30,000/- p.m. and rental income credit by son bank account every month.
Father rental income gift to son transaction rs:30,000/- * 12 months show in books.
Question:
Assessess gift to son rental income every month entry passed accepted in it act.
24 November 2022
It can be objectionable as the same is credited by tenant.
Secondly, it depends upon taxes paid by father on the rental income.
Secondly, it depends upon taxes paid by father on the rental income.
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