lakhan prasad 24 June 2019
Taxability of rental income either in the hand of wife or husband?
1. House is in the name of wife
2. Rent is being credited in wife bank account
3. TDS is deducted and credited in wfie PAN.
4. Loan for constructiin of such house is taken in the name of husnand and loan is still outstanding, interest is being paid.
Dhirajlal Rambhia (KVO Merau Kutchh) 25 June 2019
Taxability of rental income, in this case, will be in the hand of wife; but if she is not joint loan holder, she cannot claim interest deduction u/s. 24(b) of the act.