Hi.... The assessee have been receiving rent from the house property for the past 2 years where the house property is not registered in his name but it is registered in his father's name who is expired before 2 years.
Now i jus wanna know whether it is taxable for assessee??? n whether he is deemed to be owner of the property????
*but obviously he is the only son, the property belongs to him but he has not yet transfered it...
Mr.KK,
since the assessee is the only son he is the owner of the property and he has to admit the rental income in the return
yes its taxable income and he should include it in his itr
yes, it is a taxable income and include in your itr
Thanks guys .... Then you all mean that he is a deemed owner ????
s he is the deemed ower..........
Yes he is deemed onwer and this rental income will be taxable
Yes.....he is deemed owner & rental income is taxed in his hands...
nope he is not a deemed owner he is a true owner the property need not be transfered as it is inherited
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