Rent income from property

If your mother is co-owner of the house, the rental income can be shared by your parents.

Dear Sir,

If the property is in your father's name, your mother cannot show part income in her name.

Please feel free to call/revert in case of any doubts

Thanks and Regards

Abhishek Dugar

CA CS B.Com

Dear Concern,

case 1

If your mother is co-owner then she can take his part of income after calculation of income under section 22.

Case 2.

In case your mother is not co-owner you cannot transfer the income because the same will be tax as income of the transferor as per section 60.

For any further clarification feel free to contact us.

No your mother cannot show the rent as she is not the owner. If she is the joint owner in the property then she can show half of the rent

It is not mandatory but recommendatory to have at least receipts.

No compulsion of rental agreement

Not compulsory.

Dear Sir,

Is your mother a joint holder in the property. If yes, then she surely can show it in her returns.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP