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Hose rent income received in others account

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kavita

ACCOUNT EXECUTIVE

54 Points Posted on 22 August 2017

If a person let out his own property (which is on his name only), but the rent income receiving in others account (for E.g. mothers A/c). so how to treat in Income tax return?

He has to show in his own income?

Please reply.

thanks in advance..

kavita

Replies (4)

aitha balarakesh

44 Points Posted on 22 August 2017

Yes, The income is taxed in the hands of actual owner. There is no concept of receiving the amt in others a/c in IT ACT.
Better have a second opinion.

Rakesh Bandal

Self Employed and Agriculture

942 Points Posted on 22 August 2017

Amount of Income Received is to be taxed in the hands of Actual owner of Property, as property is not transfered to other person.

otherwise clubbing of income provisions will apply

For amount received in monther's account you can show such amount after showing as taxable income your return as Gift, which is not taxable in mother's hand