Hi Team,
Please confirm..
A (Father), B(Son) and C(Daughter).
B has received 3 properties from A via Gift Deed.
Here B want to declare his father A as a caretaker of the all the 3 properties through POA.
B also want to declare that what ever Rent will come through all the 3 properties should be given to A as a salary as A he is acting as a caretaker of those properties.
A is responsible to give property on Rent, Collection of Rent and Maintenance of Properties. Where as B is taking responsibility of Paying Property Tax.
My Query here is does B is responsible to pay income tax on the Rent received from the all the 3 properties, Where as A is taking the rent as his income being a caretaker as mentioned in POA?
Thanks...