POSTED BY December 27, 2013 6:15 pm COMMENTS (3)
ONHi,
The house is in my name, the rent is being received in hand. Till now i never included this income in my Tax. Can i show it as income for my spouse.(120000/peryear). Will it be considered as my income , since the house is in my name. My wife never filed income tax return till now.
Regards
2021 © Jagoinvestor.com All Right Reserved
thanks for your answer…
Dear Suree.
U hv to show & declare as ur income in ITR of every year. If u want to declare the rent as ur spouse income u need to trsfr the property into ur spouse name then u need to pay any tax on the said property.
Dear suree, as the house in nquestion is in your name, it’s your income. If you want to play with the fire by declaring the income wrongly in wife’s name, please feel free to do so but be ready to face the consequences of your choices.
thanks
Ashal