Income from house property

216 views 4 replies

My father purchased one home in his name and we all are residing in. Now we purchased second home in the name of my FATHER and my SON, my father invested some money and we took a loan for remaining amount  in the name of my SON who is a GOVT SERVANT and paying EMI for the same. We let out the second house and receives the cheque of rent in the name of my father. I want to know who is the responsible to pay the TAX on the income from propery. 

Replies (4)

Both......... father and grandson..... as per shares of their co-ownership.....

Shares of there owenership is not shown in DEED

Shares of there owenership is not shown in DEED

In that case the income will be assessed in equal proportion, after reducing home loan interest.......


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