Income tax on rental income

software engineer

Hi All,


We have a ancesteral Property which earns rental income of 60K per month. 

My Questions is:

1. Can we divide the rent recevied into 3 parts and show them under individuals income (Myself, brother and mother). so that we won't  end up in higher tax slab.

 
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Property is registered on one person means you are the benificiery , you can not claim what you are saying .

 
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ADVOCATE & LEGAL CONSULTANT

Ancestral Property means all your family members (i.e. legalheirs) having equal rights so your rental income also shared by the members so income also divided so share of the income after yearly out goes only taken into consideration for tax

 
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Advocate

All properties of HUF needs to be distributed in hands  of all three brothers and  application us 171(1) needs to be filed before AO  and AO will give a finding to that effect US 171 of I T Act and there after all individual can show there share of rent in there individual hands and pay taxes accordingly.

 
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