Rental Income split between father and son ?

No, if you have no share in rented property.

If property is in two or three names, then as per their share they can split, but rent should come in their account sepretly or if Any one getting rent in his account then he must transfer splited rent to others officially.

What if son has executed the rental agreement with POA from father and also there is agreement made for sharing the rent 50-50 between father and son in lieu of a token given to father by son 10 years back to buy half property?

If rent is more than 50000 per month tenant have to cut TDS , first check is tenant ready to pay in two names, if tenant getting HRA he will declare  PAN of land lord. 

Is father filling ITR ?  What is taxable income ,  above 500K or less, Are you trying to save taxes.

What is purpose?

If you getting rent in joint account name father  is first name, then any money he pay you to your another account. Will be loan or gift.

Why not you be a co member In property if it is housing society, you just need gift dead from father pay stamp duty 200 and registration 200,  get rent splited in two names.

But AIS will show rent received in first name if reported by tenant in his HRA declaration.

Yes thanks for your reply, was wondering if there is any other provision to split rent other than co-owner,

son helped father get a good deal (fair market value) and has worked hard to get the deal for a year. Also he is taking care of his aged father 75 and not able to work.

Can he give the son a service charge. Father has TDS more than a lac. He wants to claim a refund and give his son some income. His son is jobless after COVID

Any idea what is 53a ? Can his son be a deemed co-owner since he had given 2 lacs to father 10 years back when he was working ?

with a gift deed From what date can he claim co-ownership?

What is big deal if son give 2 lakhs to father, it is sons duty to take care parents financially, moraly, etc.

Read 

https://blog.ipleaders.in/section-53a-of-transfer-of-property-act-an-analysis/#:~:text=of%20the%20property.-,Explanation%20of%20Section%2053A,the%20contract%20against%20the%20transferee.

Gift dead 

Father to make gift dead for property where he can give full or part of share to one or more children , dead to be registered and stap duty paid.

Same to be given to housing society to get share certificate amended. .

Society will add names  in share certificate.

This can take 2 to 3 months or more depend on your legal expert.

Thanks but Gift deed would take a long time to execute and no savings on tax in previous fiscal. The family is ending up paying more tax than they should, with low income in sons name.

2 lacs were used for repairs of the property and maintenance so that it can be given for rent.

1-Can the father give his son a service charge to save the tax liability.

2-Can the 2 lac be considered as a property loan from son at 15% rate and repayment with interest after 10 years. as father has given son  5.5 lacs last fiscal.

Please advise how Father and son can save tax, since both father and son have also invested 1.5 lac (80C)

80TTB deduction is 50K

80C deduction is 150K

Any money given to son can be considered as gift or tax free loan no tax to son

Gift dead  you can made on stamp paper or green  legal paper, syam duty and registration is on line process .

Go to any Real estate Agent he will do in week time, then give copy to housing society for adding your name in share certificate.

Once you paid stamp duty and registration  yo can split rent.

There is no TDS deduction by tenant if rent received is less than 50000 to each owner.

Better go to CA or tax consultant , he can give you better solution.