House property related

It depends on what you will do with it,

For Eg. if you are letting it out to someone to earn rent then definitely your share will be taxed .

or If you decide to keep it for yourself without renting it then you have tax implications again. But there are a number of case laws which needs to be examined to decide about taxability. most of them depend upon what you do with the property.

Hi,

Two things.

1. Whether any tax liability on registration of property jointly on your name - No. There is no issue if you hold a house property jointly with your mother even if it is not funded by you.

2. After it is registered, if any income is generated from that house property, say it is let out - Then the rent income will be taxable in ur hands in the ratio of the share held by you in that property.

But, even if it is not rented out, since, you already holds a house property, your share in this property may be taxed on the basis of expected rent. In that case, you can show either of your property as Self occupied and pay tax on the second one.

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- Ashish

(8802999731)