I am a employee in a pvt. ltd. co in Pune and have property jointly held with my wife.There is no home loan and I want to let our this property & receive rent in my wife’s name. The Leave & License Agreement will be on my wife’s name.She is a housewife and doesn’t have...
My father in law has a house in Delhi . He wants to transfer the house in my name. Is the rent taxable in my hand?
September 7, 2006 by
No , Rent is not taxable as your income if the transfer of the house was done without receiving the consideration......why? This is beacuse of clubbing provision in the I T Act .Section 64 (vi) of the I T Act states:In computing the total income of any individual, there shall be included all such income
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