I have two properties, both of which are rented (Rs. 15000 and Rs 12000 per month). I am staying in company accomodation for which I am charged monthly deduction in salary (Rs. 1190 per month). My salary is also deemd to add perks (Rs. 2,30,000 per annum) on account of company house as per the company policy considering the rental value of the Company house and taxed on the same (TDS is deducted). Interest on house loan is Rs. 23000/- per annum.
How can I compute income from house property.
I have two properties, both of which are rented (Rs. 15000 and Rs 12000 per month). I am staying in company accomodation for which I am charged monthly deduction in salary (Rs. 1190 per month). My salary is also deemd to add perks (Rs. 2,30,000 per annum) on account of company house as per the company policy considering the rental value of the Company house and taxed on the same (TDS is deducted). Interest on house loan is Rs. 23000/- per annum.
How can I compute income from house property.
Good explanation
One question, can the rental Income received for a single owner property be split between Mother and Son to save tax as property has been transferred to the Mother with NOC from the son and she transfers half of the rent to her unemployed son every year?
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