Husband and wife have a joint property in Chennai. Property has 5 flats. They are receiving rental income from all 5 flats. Can husband show rental income for 3 flats and can wife show rental income from 2 flasts for income tax purpose? Cos, 3 tenants transferring rent to husband account and 2 tenants transferring rent to wife account.
Or they have to add rental income of all 5flats and share at 50:50?
Husband and wife have a joint property in Chennai. Property has 5 flats. They are receiving rental income from all 5 flats. Can husband show rental income for 3 flats and can wife show rental income from 2 flasts for income tax purpose? Cos, 3 tenants transferring rent to husband account and 2 tenants transferring rent to wife account.
Or they have to add rental income of all 5flats and share at 50:50?
CAclubindia
