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sanjeev pawar (service)     28 April 2013

Our flat given on rent, and emi being paid

dear sir/madam,

request your kind replies,

I am fighting 125 interim and final maintainence cases, along with HMA 24 and RCR case filed by wife.

I have a one bedroom flat, jointly owned by me and my brother, which is brought on loan and EMI is being paid

The loan is borrowed jointly by me and my brother. 

The flat is rented out to a tenant at Rs 9000 per month, the agreement is done on my name with tenant

The EMI being paid is of Rs 15000 per month, the difference of 6000 is being paid jointly by me and my brother (3000+3000)

my question is: Will the rent be considered as my income as the agreement is in my name and the rental amount is being deposited in my account.

will the flat be considered as an investment, and not a necessity of shelter, as this is the only property we as brothers own, this is not 100% owned by me.

will the rent received in my name be considered as extra income by me, ?

The fact is that though we are receiving the rent of Rs 9000, we are both contributing Rs 3000 each and paying the EMI of Rs 15000. so there is no monetary benifit for me as such.?

Request you all for your kind guidance. thanks



Learning

 4 Replies

Tajobsindia (Senior Partner )     28 April 2013

  1. It is considered under your ‘income’ head.
  2. It will not be considered as ‘necessity’ for a reason it is given on rent deriving an income which all constitutes as ‘investment’.
  3. Any Junior level Advocate of your wife’s side can draw above inferences which is not rocket science for a reason does the flat not fetching any appreciation value for the two brothers suppose it is put on sale today kya !  Should no one factor the appreciation kya !

 

1 Like

(Guest)

You are making things unnecessaarily complicated.


Just pay her alimony.  Dont think so far as property attachment etc.

1 Like

sanjeev pawar (service)     29 April 2013

@helping hand and @TA jobs....thank you both for your kind replies.

@ helpinghand.....yes you are right.  actually what i was thinking was,  since eventually i will be paying maintainence, hence i just wanted to calculate the rough figure that i will have to pay in future, hence wanted to know if the rental income would also be taken into consideration.  because i will have to make provision for the same.

Adv k . mahesh (advocate)     30 April 2013

why all unwanted mental tension you want to bare negotiate with her about the maintenance and pay her the amount 

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