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House Property
If the residential house property is in the name of wife and the client intends to receive rental income in the name of husband can the same be deviated by having a lease deed between wife and husband and then leave and license deed between husband and tenant? please guide
Replies (10)
AO has right to disallow the manipulation, and tax the full rental income in the hands of original owner (here wife)
then how to make things proceased in order to get the income in husband's Account? or to get the main agreement altered with both's name in it .
clubbing provision will apply and such rent ultimately taxable in hand of wife becz the wife was the owner
trf property to husband as gift
than entire income taxable to husband
instead we can get husband's name incorporated in the agreement jointly with wife. so that income can be transferred.
partly goes to wife and partly goes to huband in that case (co ownership concept apply)
gift was the best option
sorry gift was also dont work due to sec 27
deemed owner concept
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