Chartered Accountants, practicing CA’s, students and related industry professionals may connect with users of similar interests. To raise and discuss issues related to finance and taxation. The objective of this group is to address concerns and bring out feasible solutions for making a strong communication network for all related audience.

Rental Income

1 reply, 2 voices Last updated by  Yuvika Deshmukh 2 days, 2 hours ago
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  • #6429

    KHYATI AASARE
    Participant
    @KHYATIASSARE99

    My aunt’s son stays in the USA. He owns a house in India and has let it out. He has asked tenants to pay rent to my aunt. He has not received any rent. Is he still liable to tax? What if he transfers the house to aunt?

    #6434

    Yuvika Deshmukh
    Participant
    @yuvika@123

    Rental income is charged to tax in the hands of the owner of the property. Your aunt’s son is the owner of the house and, therefore, he is liable to pay tax, even though your aunt receives rent. If the house is transferred to your aunt, then she will become the owner and she will have to pay Income-tax on the rental income.

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