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haragopal (agm)     26 September 2021

Rental income on spouse name

i own a house on my name. i want to give my wife the monthly rent received from the house. Is there a provision to show the rent as income for my wife instead of me.
i am taking interest paid on home loan in my tax returns.


 6 Replies

Sourav

Sourav (Student)     26 September 2021

Income received should be taxable in your hands as it will be clubbed
Raj C Doshi

Raj C Doshi (Practising CA)     26 September 2021

You can plan to give rent for furniture and fixtures owned/ possessed by her. Also, you cannot pay home rent to wife as she is not owner
1 Like
haragopal

haragopal (agm)     26 September 2021

Is there now provision to reduce tax liability on the home rent is receive?
haragopal

haragopal (agm)     26 September 2021

haragopal • 26 September 2021

Sir Is there no provision to reduce tax liability on the home rent i receive?

Raj C Doshi

Raj C Doshi (Practising CA)     26 September 2021

Nothing except interest on loan and standard deduction.
Sourav

Sourav (Student)     26 September 2021

Only interest on loan and std deduction should be claimed

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