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Rental income related query

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saurabh sawlani

Self employed

2193 Points Posted on 26 August 2023

dear colleagues
good evng,

ek mere client hai jo govt employee bhi hai , vo apne ITR me house property ki rebate(interest & principal) bhi claim krte hai, ab vo ussi house property ko rent per Dena chahte hai , but vo rental income apni wife k a/c me received krenge or unke ITR me rental income show krenge , kya esa possible hai?

note - mere client apni wife ko uss house property ki power of attorney bhi de rhe hai, toh kya possible hoga ki unki wife vo rental income apne ITR me declare kr ske??

regards,

Replies (4)

Quick Summary

A query arises regarding a government employee who claims house property deductions on their ITR. They intend to rent out this property and have the rental income received by their wife, who would then declare it on her ITR. The client is also providing a Power of Attorney to his wife for the property. The discussion points out that the husband is the deemed owner, questioning the utility of the Power of Attorney. It's also noted that income might be clubbed with the husband if the property is transferred to the wife without adequate consideration.