Tax on rental income gifted to mother
This query is : Resolved
abhay kumar
(Querist)
12 August 2015
Rent of my house is deposited to mother's (senior citizen without any regular income)bank account directly by the tenant. I will pay tax on rental income. But wether i am liable to pay tax on interest income on rentals also which is being enjoyed by my mother.
13 August 2015
since you are the owner of the house you will be liable to pay tax on rental income. There is no clubbing of income and as far as tax saving is concerned deductions are available in income tax u/s chapter VIA from total income.
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