Dear Sirs,
I have a question and, this is the scenario:
1) Rent agreement is for - 40,000 per month
2) Rent agreement is unregistered
3) Rent is received via bank transfer- 40,000 per month i.e. without deducting TDS
4) Owner is salaried
5) Tenant is not deducting TDS
6) Tenant is salaried and he is claiming HRA from his employer, but not giving owner's PAN (using someone else's PAN)
7) Tenant is mentioning
narration as "Rent" while doing NEFT transfer to owner
*Question- Is owner liable to pay tax on rent received?
If yes, then how can owner avoid paying tax
Request if someone can help.
Thank you
CAclubindia
