RENT

KISHORE KUMAR JOSHI (Querist) 29 August 2014 This query is : Resolved
My son is the owner of a tenanted property to safe income tax he wants to make an agreement to include my name in the rent bill which he issuing to the tenants . Can it done as per law ?

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Devajyoti Barman (Expert) 29 August 2014
yES, HE CAN DO SO BUT HOW WILL HELP IF THE IT DEPARTMENT ASK FOR PROOF OF OWNERSHIP OF HOUSE BY HIS MOTHER.

ajay sethi (Expert) 30 August 2014
better your son execute gift deed in your favour to make you 50%owner of the property . then rent bill can be raised in joint names .

Rajendra K Goyal (Expert) 30 August 2014
Mother is not owner of the property, it would not be proper to rent the premises by her.

malipeddi jaggarao (Expert) 30 August 2014
If he wants to share the rent with you to save the Income Tax, or avoid TDS, follow the advice of Expert Shri Ajaysethi. Then only it is possible. Otherwise your son may land into problems for wrongful tax returns.

T. Kalaiselvan, Advocate (Expert) 03 September 2014
Well explained by expert Mr. Malipeddi Jagga Rao, Better carry out the things legally and properly to avoid the issues in this regard at a later stage.

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