so if mom n son bought a house together in joint, mom paid donpayment of abt 10 % and rest is taken as loan by son where mom is co applicant, the emi is being paid by the son., the sale deed doesn't have the ratio so ppl saying by default its 50-50, so now when they rent out the property, the rental income comes into the joint account of mom n son and both claim 50-50 in their tax filings or is it better take income into their separate accounts? also since is the rental split 50-50 or 10-90?
CAclubindia
