Rental income

Tax planning 89 views 2 replies
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ca
58 Points Joined July 2013

Dear All

                Suppose i have an commercial property in the name of 4 person. viz Father, Mother, Brother & Me. I want to give said property on rental basis. Can i  receive rent on name of any person depending on Tax Liability. 

It is legally allowed or not to receive rent on any two party to save the Tax Liability??.. Please suggest

 

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On 09 October 2017 at 17:54 Report
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online

SEO Sai Gr. Hosp.
196926 Points Joined July 2016

If the rent receiver are in highest bracket of tax....... it will be allowed........

Otherwise NOT.

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On 09 October 2017 at 18:35
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Chartered Accountants
2015 Points Joined August 2010

Rental Income is taxable in hands of all the four owners equally. There is no way to receive rent in any person's name to avoid tax liability.

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On 01 November 2017 at 23:11


CCI Pro

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