For Example : owner for the self occupied property is father . Son lives with his father together . can son pay electricity bill from his account and do entry as drawings .
According to income tax ?
Is it correct ?
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Regarding Eb bill
Replies (6)
Yes, allowed as personal expenditure..
Full amount can be taken as drawings and half amount can be paid by father
Half amount can be paid by son?
Yes, allowed if the amount is not claimed as an exemption.
Ok sir thank you so much
Its not taken in any exemption
Only in drawings in both father and son account
Ok sir
Yes, allowed....
It is a personal family arrangement in a joint family.
So no tax implications
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