TWO YEAR AGO I TRANSFER 50,00,000 Rs. IN MY WIFE ACCOUNT. BY USING THIS MONEY MY WIFE PURCHASED A FLAT. NOW MY WIFE IS GETTING 15,000/- PM RENT FROM THAT PROPERTY . NOW I WOULD LIKE KNOW THAT WHETHER THIS RENTAL INCOME TAXABLE IN MY HAND OR IN MY WIFE HAND . PLEASE ADVISE ME
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House property -clubbing of income
Replies (3)
Hi Mr. Kishore, as per sec 64(1) of I.T act 1961, Rental income will be clubbed with your income under the head house property. Thanks and Regards Suraj Pahuja.
The Clubbing of Income provisions will not apply in the above mentioned case.
Regards,
Devendra K
Still waitting for Exact Answer above two Replys are differrent from each other
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