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Rental income from father owned house

ITR Filing 811 views 2 replies

inderjeet

Student Others

28 Points Posted on 18 April 2014

hi i have given my details (Name, Pan No. etc.) in the rental receipt of a house which is owned by my father (because my father don't have pan card). i want to know that wheather this income should reflect to my account or in father account. if this income belongs to me then which head i should mention it in ITR. please guide. thanks in advance.

Replies (2)

Mihir

Wealth Manager

5293 Points Posted on 18 April 2014

Your father should apply for a PAN card and file ITR stating the rental income under income from house property.

Income Tax Wala: (Fin. Expert)

Chartered Accountants

2015 Points Posted on 18 April 2014

Mr. Inderjeet

you are not eligbile to take that rental income in your ITR.

if Rental income is not material i.e below 2 lac /2.5 lac if your is senior citizen after standered deduction of 30% than you need not to file his ITR nor you need to think to include that rental income in your ITR.

else apply PAN of your father and file his ITR