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Renting property

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(Querist)
13 January 2018 Sir,

We have a commercial property in joint name of three friends. We want to lease it to a MNC. Company is willing for a lease but in a single name and TDS for the same also in single name. How we can distribute rental income and TDS amongst the partners? Please guide.

Shreeram
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KAVIRAJA ADDANGADI

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KAVIRAJA ADDANGADI (Expert)
13 January 2018 If property owned by 3 friends, Than you have t Receive Rental Income proportionately, TDS to be deducted according to Proportion, Other wise Single person is liable to tax full rent. Since income & TDS Deducted single person name.
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