Dear members
The rental income from a house property that is in the name of wife is being deposited in husband account. It was husband who had invested in construction of the house (plot is in name of wife) and is managing the house/rental activities.
Question: is it ok for husband to show the rental income as his income and use it for tax filing. OR, the wife (who is the legal owner) will have to show income in her account.
If not allowed, what are the best ways for the husband to show the rental income s his own.
Transfer of property will attract stamp duty, and could be a costly.
Thanks.
CAclubindia
