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.
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Rental income on spouse name
Replies (6)
Income received should be taxable in your hands as it will be clubbed
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
Is there now provision to reduce tax liability on the home rent is receive?
haragopal • 26 September 2021
Sir Is there no provision to reduce tax liability on the home rent i receive?
Nothing except interest on loan and standard deduction.
Only interest on loan and std deduction should be claimed
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