Hi
Husband pays money for buying a house.HE buys the house in wife's name .The transfer of asset is not a revocable transfer.There is no consideration paid by wife to husband,no transfer of jewellery from wife to husband .The payt done fully white (thru online bank transfers),out of known source of income of husband(salary,tax deducted on salary)
The wife lets out the house in her name and recives the rent in her bank account.She has only income from other sources income from bk int around 5-7 lakhs p.a Should the rent be clubbed with husbands income under the head income from House Property.or wife can show as her own HP income?
CAclubindia
