MR.' X' IS AN EXCEUTOR WHO IS RECEIVING RENT ON BEHALF OF THE BENIFICIARY 'Y'. MY QUESTION IS- WHO HAS TO SHOW THE RENTAL INCOME IN THE BOOKS AND IN INCOME TAX RETURN.
WITH REGARDS!
THANKINGYOU
KISHORE KUMAR JOSHI
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Income tax in the hands off
Replies (1)
The person in whose name the property is registered is liable to show the rental income in the books and in Income Tax Return.
Therefore, Mr. Y who is the beneficiary shall have to show rental income in his books and in Income Tax Return.
Moreover, Mr X is only an executor on behalf of Mr.Y.
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